As expected, gold followed my projection very precisely....
After losing the 3200 support zone yesterday, price continued its descent and is now hovering around the 3140–3160 support area. This zone is significant and could act as a temporary buffer.
At this stage, I’m expecting some sideways movement a consolidation phase. Why? Because this level could attract some short-term buying or profit booking from sellers.
If gold fails to hold this level and we see increasing selling pressure, a clean breakdown could drive us straight toward the 3000 psychological level my next target. That would be a key area to watch for a larger bounce or even a macro reversal setup.
After losing the 3200 support zone yesterday, price continued its descent and is now hovering around the 3140–3160 support area. This zone is significant and could act as a temporary buffer.
At this stage, I’m expecting some sideways movement a consolidation phase. Why? Because this level could attract some short-term buying or profit booking from sellers.
If gold fails to hold this level and we see increasing selling pressure, a clean breakdown could drive us straight toward the 3000 psychological level my next target. That would be a key area to watch for a larger bounce or even a macro reversal setup.
Nota
still looking good to move lower
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✅For Live Update on Gold Price and trade opportunities ; Join Free community
t.me/livepriceactiontrading
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Penerbitan berkaitan
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.