Gold Technical Analysis
Gold extended gains on Friday as the U.S. dollar eased from two-month highs, fueled by rising expectations of a November Fed rate cut. Investors now await the Fed's key inflation gauge for guidance.
The price is above 2538 and in a bullish trend toward 2,650. If it reaches and breaks above this level, it is likely to rise further to reach 2,661.
For a bearish trend to develop, stability below 2,538 is required, with a potential target of 2,624. A break below 2,624, particularly with a 4-hour candle closing below this level, would confirm the bearish trend and could lead to a decline toward 2,515.
Key Levels:
Pivot Point: 2624
Resistance Levels: 2651, 2661, 2670.
Support Levels: 2638, 2624, 2615
Trend:
Bearish below 2624
Bullish above 2,638
Gold extended gains on Friday as the U.S. dollar eased from two-month highs, fueled by rising expectations of a November Fed rate cut. Investors now await the Fed's key inflation gauge for guidance.
The price is above 2538 and in a bullish trend toward 2,650. If it reaches and breaks above this level, it is likely to rise further to reach 2,661.
For a bearish trend to develop, stability below 2,538 is required, with a potential target of 2,624. A break below 2,624, particularly with a 4-hour candle closing below this level, would confirm the bearish trend and could lead to a decline toward 2,515.
Key Levels:
Pivot Point: 2624
Resistance Levels: 2651, 2661, 2670.
Support Levels: 2638, 2624, 2615
Trend:
Bearish below 2624
Bullish above 2,638
Dagangan ditutup: sasaran tercapai
The price has risen as anticipated, reaching the target of 2651 and touching 2661.Currently, the price is trading above 2651. If it can break above 2661, the uptrend is likely to continue towards 2670, with the final resistance at 2680.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.