It is quite clear that the gold ounce price has entered a downward trend.
I predict that this bearish (corrective) move will likely continue until November 10. This timeframe represents the most optimistic scenario.
As for how far this trend will extend and where the next support level may form, I will discuss it in the coming days as we approach November 10.
I predict that this bearish (corrective) move will likely continue until November 10. This timeframe represents the most optimistic scenario.
As for how far this trend will extend and where the next support level may form, I will discuss it in the coming days as we approach November 10.
Trade active
Today, gold opened with a strong bearish momentum.This could indicate that the current trend may continue until **November 11**.
As we get closer to that date, I will discuss the key support level.
Note
Gold also started today in negative territory, indicating that the downward trend is continuing toward the specified timeframe.In this analysis, I am focusing on time cycles, and as we get closer to the projected date, I will discuss the potential upcoming support level in more detail.
Note
Gold also started today in negative territory, indicating that the downward trend is continuing toward the specified timeframe.In this analysis, I am focusing on time cycles, and as we get closer to the projected date, I will discuss the potential upcoming support level in more detail.
Note
"The ounce faced support from buyers around the 3900 range, and the selling pressure decreased. This range can be considered as support, but I still believe the downward trend is not over, and I consider November 10th as the point when the trend will end."Note
We are getting closer to the end of the downward (corrective) trend in gold (ounce), and we can discuss the support level next week.Note
There's little time left until November 10, and gradually, we are determining support levels for gold. So far, the $3900 level for gold is a support level that we will keep an eye on until November 10.Note
The downward trend of gold continues until the specified date, November 10, and in these final days, I consider the $3900 range as a support level.Note
Yesterday, at the end of the trading day, we reached the $3900 range in gold, the range we had identified as a support level. So far, it seems that this range is acting as a support level, but the downward trend is not over yet. Our target date is November 10Trade closed: target reached
Well, today I reached the end of the designated time for the Ounce opportunity, and Ounce considered $3,900 as the support floor.I’m closing this analysis and opening a new one
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.