Technical Analysis of Gold:
Continuation of Bearish Trend with Key Levels
Continuation of Bearish Trend with Key Levels
- The price maintained its bearish trend from yesterday, as indicated in our previous analysis starting from 2369, successfully hitting all our targets. The downward pressure remains intact, aiming for 2327 and 2304, provided the price continues to trade below 2354. A retest up to 2354 is possible, after which the bearish trend is expected to resume.
- However, if the price stabilizes above 2369 and closes a 4-hour candle above this level, it may attempt to reach 2388.
- Pivot Price: 2344
- Resistance Levels: 2354, 2369, 2388
- Support Levels: 2327, 2318, 2302
Today's anticipated trading range is between the support level at 2305 and the resistance level at 2369.
Previous idea:
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