Gold May Fall to 2615.00 - 2625.00 (READ DESCRIPTION)
Gold May Fall to 2615.00 - 2625.00
Pivot Point: 2650.00 – This level acts as key resistance, capping potential upside moves. A sustained break above it would indicate a shift in momentum.
Primary Strategy (Our Preference):
Entry Point: Short positions below 2650.00.
Target Levels:
2625.00: This serves as the initial downside target, indicating a potential decline from the pivot point.
2615.00: If bearish momentum continues, further downside towards this level is likely.
Alternative Scenario:
Entry Point: If the price moves above 2650.00, consider long positions.
Target Levels:
2659.00: A move higher could test this resistance level first.
2670.00: Further bullish momentum may drive Gold toward this higher resistance.
Technical Outlook:
RSI Indicator: Likely indicates bearish sentiment, suggesting a risk of further declines as long as resistance at 2650.00 holds.
MACD Indicator: May be below its signal line, reinforcing the bearish momentum.
Moving Averages: Gold is likely trading below its 20- and 50-period moving averages, suggesting continued short-term weakness.
Market Dynamics:
As long as 2650.00 remains resistance, further price declines are anticipated, targeting 2625.00 and potentially 2615.00.
A break above 2650.00 could shift momentum to the upside, with targets at 2659.00 and 2670.00, indicating a reversal of the current bearish trend.
Pivot Point: 2650.00 – This level acts as key resistance, capping potential upside moves. A sustained break above it would indicate a shift in momentum.
Primary Strategy (Our Preference):
Entry Point: Short positions below 2650.00.
Target Levels:
2625.00: This serves as the initial downside target, indicating a potential decline from the pivot point.
2615.00: If bearish momentum continues, further downside towards this level is likely.
Alternative Scenario:
Entry Point: If the price moves above 2650.00, consider long positions.
Target Levels:
2659.00: A move higher could test this resistance level first.
2670.00: Further bullish momentum may drive Gold toward this higher resistance.
Technical Outlook:
RSI Indicator: Likely indicates bearish sentiment, suggesting a risk of further declines as long as resistance at 2650.00 holds.
MACD Indicator: May be below its signal line, reinforcing the bearish momentum.
Moving Averages: Gold is likely trading below its 20- and 50-period moving averages, suggesting continued short-term weakness.
Market Dynamics:
As long as 2650.00 remains resistance, further price declines are anticipated, targeting 2625.00 and potentially 2615.00.
A break above 2650.00 could shift momentum to the upside, with targets at 2659.00 and 2670.00, indicating a reversal of the current bearish trend.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.