Gold is testing a key demand zone (2,835 - 2,842) after a strong downtrend. This area aligns with previous support and Fibonacci confluence.
🔹 RSI at 26.61 – deeply oversold, indicating a possible bounce.
🔹 Fib Levels – Price is near the 0.236 retracement (2,855) and may target 0.5 - 0.618 levels (2,878 - 2,887).
🔹 EMA Cluster Resistance – The 20/50/100 EMAs align near 2,854 - 2,858, making this a key breakout zone.
🔹 Descending Channel – A breakout above the upper trendline could confirm bullish momentum.
📌 Entry: Around 2,842 - 2,835
🎯 Targets: 2,864 / 2,878 / 2,891
🛑 SL: Below 2,830
📊 Risk/Reward: 4.03
Break above 2,858 could push further, while failure to hold 2,835 may lead to 2,820 levels. Watching for confirmation! 🚀
Thoughts? Are you bullish or still bearish? 👇
🔹 RSI at 26.61 – deeply oversold, indicating a possible bounce.
🔹 Fib Levels – Price is near the 0.236 retracement (2,855) and may target 0.5 - 0.618 levels (2,878 - 2,887).
🔹 EMA Cluster Resistance – The 20/50/100 EMAs align near 2,854 - 2,858, making this a key breakout zone.
🔹 Descending Channel – A breakout above the upper trendline could confirm bullish momentum.
📌 Entry: Around 2,842 - 2,835
🎯 Targets: 2,864 / 2,878 / 2,891
🛑 SL: Below 2,830
📊 Risk/Reward: 4.03
Break above 2,858 could push further, while failure to hold 2,835 may lead to 2,820 levels. Watching for confirmation! 🚀
Thoughts? Are you bullish or still bearish? 👇
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.