Gold forming a consolidation range What should Next?
Gold prices continue to correct to the downside, forming a consolidation range near current levels. The market remains supported, but momentum is weakening as the US Dollar strengthens amid a local bullish trend.
As long as the dollar maintains its upward correction, downside pressure on gold is likely to persist. a break below the trading range support could trigger further declines toward the 4,070 4,005 zone (support area). This level may act as a potential retest zone for buyers. For now, it’s best to wait for price action to slow down near the lower boundary of the range before considering new trades — patience and confirmation are key to avoid false breaks.
You may find more datils in the chart,
Trade wisely best of Luck Buddies.
Ps; Support with like and comments for better analysis Thanks for Supporitng.
As long as the dollar maintains its upward correction, downside pressure on gold is likely to persist. a break below the trading range support could trigger further declines toward the 4,070 4,005 zone (support area). This level may act as a potential retest zone for buyers. For now, it’s best to wait for price action to slow down near the lower boundary of the range before considering new trades — patience and confirmation are key to avoid false breaks.
You may find more datils in the chart,
Trade wisely best of Luck Buddies.
Ps; Support with like and comments for better analysis Thanks for Supporitng.
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t.me/Jamessignals11
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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.