GOLD 1H CHART ROUTE MAP UPDATE: FORECAST BEFORE THE ELECTION.
Hi everybody,
Identifying Support and Resistance Zones: Based on the chart, the key support zone is found near the 2,730 level, where the price has repeatedly rebounded. The resistance zone is around 2,750 – 2,760, where the price encounters selling pressure.
Current Trend: It is evident that the price is in a slight downtrend following an unsuccessful recovery. Recent trading volume has not spiked significantly, indicating caution in the market.
Short-Term Forecast: If the price breaks below the 2,730 support level with high volume, the downtrend could continue. Conversely, if the price holds and moves above the resistance level, a recovery rally may occur.
Identifying Support and Resistance Zones: Based on the chart, the key support zone is found near the 2,730 level, where the price has repeatedly rebounded. The resistance zone is around 2,750 – 2,760, where the price encounters selling pressure.
Current Trend: It is evident that the price is in a slight downtrend following an unsuccessful recovery. Recent trading volume has not spiked significantly, indicating caution in the market.
Short-Term Forecast: If the price breaks below the 2,730 support level with high volume, the downtrend could continue. Conversely, if the price holds and moves above the resistance level, a recovery rally may occur.
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