Gold Price Update – Clean & Clear Explanation

2 days ago

✅ Gold where the market has been moving inside repeated zones of support and resistance. You can clearly see that price has been bouncing between these grey areas, which act like barriers that stop the market from moving too far in one direction without a reaction.

🤙At the right side of the chart, the price is currently pulling back from a recent high and dropping toward an important support region near 4,180 – 4,173, which has been tested several times in the past. This zone sits right above two rising trendlines, showing that buyers have been stepping in every time price moves down to these upward-sloping lines. Because of this, the chart suggests that the market may give a bullish reaction once again when it reaches this lower area.

⭕The drawing on the chart shows that price might first dip slightly below its current level, touch the trendline support, and then bounce upward with strength. If the market follows this path, the first target for the move is the mid grey zone around 4,220, which has acted as a key supply and demand level. If buyers manage to break through this zone, the next larger target lies higher around 4,254, which is marked as the final take-profit area for the potential bullish swing.

⭕The overall idea shown in the chart is that the market is still respecting an upward structure. As long as price stays above the trendlines and the support levels below, the suggested trade setup is a buy from the lower zone, aiming for the mid-range resistance and finally the upper target. The plan also hints that a deeper drop below 4,159 would invalidate the bullish expectation and act as a stop-loss area.

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yesterday

Trade active

Price is touch the 4218 still Eye