Greetings,
Gold closed below the daily pivot point on Friday at 1919.885, a development that has prompted expectations of a potential minor decline in the short term, possibly down to around 1912.949. It's important to consider recent events in the gold market, such as reports of central banks increasing their gold reserves as a hedge against economic uncertainties. This suggests continued interest in gold as a safe-haven asset.
Despite this, it's crucial to acknowledge the robust support levels at 1917.837 and 1895.514, which make a significant drop below 1912 less likely but still plausible.
The pivotal level to monitor is 1912. If it fails to provide support, there may be a test of either the 1905 level or a range near 1895. However, the more probable scenario, considering current market conditions and recent news, leans towards a modest decline to 1912, or possibly even a reversal before reaching that point.
Taking into account the broader context of the gold market, including recent developments, the primary focus remains on potential bullish targets. Central bank actions and global economic uncertainties continue to support gold's status as a safe-haven asset. However, maintaining flexibility and adaptability in response to changing market dynamics is essential, as shifts in sentiment or news could prompt a reconsideration of bearish targets. This approach ensures that decisions are grounded not only in technical analysis but also in the evolving news and events shaping the gold market.
If you have a moment, I'd really appreciate your boost for my analysis. Your input would be truly valuable.
TradeWithTheTrend3344
Bullish Targets:
1961.972
1950.934
1947.254
1943.574
1936.216
1932.536
1928.857
Gold closed below the daily pivot point on Friday at 1919.885, a development that has prompted expectations of a potential minor decline in the short term, possibly down to around 1912.949. It's important to consider recent events in the gold market, such as reports of central banks increasing their gold reserves as a hedge against economic uncertainties. This suggests continued interest in gold as a safe-haven asset.
Despite this, it's crucial to acknowledge the robust support levels at 1917.837 and 1895.514, which make a significant drop below 1912 less likely but still plausible.
The pivotal level to monitor is 1912. If it fails to provide support, there may be a test of either the 1905 level or a range near 1895. However, the more probable scenario, considering current market conditions and recent news, leans towards a modest decline to 1912, or possibly even a reversal before reaching that point.
Taking into account the broader context of the gold market, including recent developments, the primary focus remains on potential bullish targets. Central bank actions and global economic uncertainties continue to support gold's status as a safe-haven asset. However, maintaining flexibility and adaptability in response to changing market dynamics is essential, as shifts in sentiment or news could prompt a reconsideration of bearish targets. This approach ensures that decisions are grounded not only in technical analysis but also in the evolving news and events shaping the gold market.
If you have a moment, I'd really appreciate your boost for my analysis. Your input would be truly valuable.
TradeWithTheTrend3344
Bullish Targets:
1961.972
1950.934
1947.254
1943.574
1936.216
1932.536
1928.857
Comment:
Bullish Target @ 1928.857 Done
Comment:
Wishing each and every one of you a great and relaxing weekend ahead!
Comment:
Bullish Targets @1932.536,1936.216,1943.574,1947.254 Done