Gold Update : No change so far ,still in sideways range

2 Jan

Price is trading within a defined range, with 2639 as the upper boundary and 2585 as lower boundary.
Despite recent upward movement, lack of volume confirmation suggests caution for last two day up move. The original downside target (2536-50) remains valid until we see a decisive break above mentioned resistance levels with strong volume support.

What We Need for Bullish Confirmation:?

• Clear break and close above 2639
  
• Price need to sustain above 2650-55 on Higher Time Frame.
  
• Need Strong volume to support the move
  

Until these conditions are met, my original downside target remains valid from a technical perspective.The current price action appears to be in a decision zone, and the lack of volume confirmation suggests this could still be a temporary move rather than a trend reversal so I will wait for good confirmation before initiating buy trade.

7 Jan

Nota

As on Jan 07,2025 gold is trading in sideways range but now leaning towards the bullish bias.