We have seen a strong recovery from the monthly pivot point, which acted as solid support. However, the price is now facing significant resistance in the Fibonacci golden zone between 3,370-3,379, based on the recent decline from 3,409 to 3,331. This resistance level presents the main challenge for bulls at this point.
For the bullish momentum to continue, buyers need to push the price above 3,379, which would confirm the upward trend and signal further strength. The positive sign is that gold has been holding steady above the 3,350 level, showing some underlying support at this price point.
Looking at key levels to watch, 3,350 serves as the immediate support level . If this level fails to hold, the next major support comes in at 3,331. A breakdown below these support levels could trigger further selling pressure and lead to additional declines in gold price.
For the bullish momentum to continue, buyers need to push the price above 3,379, which would confirm the upward trend and signal further strength. The positive sign is that gold has been holding steady above the 3,350 level, showing some underlying support at this price point.
Looking at key levels to watch, 3,350 serves as the immediate support level . If this level fails to hold, the next major support comes in at 3,331. A breakdown below these support levels could trigger further selling pressure and lead to additional declines in gold price.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.