Gold Daily Rejection at ATH Signals Potential Correction Phase?
The price has entered the projected topping zone that we discussed in previous posts, with increased volatility in the 3,100-3,150 range. This aligns perfectly with earlier forecast. The current situation presents two likely scenarios:
Scenario 1: Pullback and Double Top
If bears manage to keep the price below the previous day's high , we could see a pullback to the first support area around 3,050-3,060. From there, price might bounce back up to retest the all-time high, forming a double top pattern before beginning a more significant move to lower levels.
Scenario 2: Direct Move to Major Support
Alternatively, we could see a more decisive move down, bypassing the intermediate support and heading directly to the high-volume support zone visible on the volume profile around 2,900-2,880.
for Intraday the Major Support is at 3100-3110 zone , resistance is at PDH.
Scenario 1: Pullback and Double Top
If bears manage to keep the price below the previous day's high , we could see a pullback to the first support area around 3,050-3,060. From there, price might bounce back up to retest the all-time high, forming a double top pattern before beginning a more significant move to lower levels.
Scenario 2: Direct Move to Major Support
Alternatively, we could see a more decisive move down, bypassing the intermediate support and heading directly to the high-volume support zone visible on the volume profile around 2,900-2,880.
for Intraday the Major Support is at 3100-3110 zone , resistance is at PDH.
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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.