Gold Slips Amid Profit-Taking; All Eyes on U.S. Inflation Data
Gold Drops on Profit-Taking as U.S. Inflation Data Looms
Technical Analysis: Gold
Current Outlook: The price advanced as predicted, and to maintain the bullish trend, a break above the all-time high (ATH) of 2,475 is necessary to target 2,484 and 2,493.
Bullish Scenario:
The price needs to break above 2,475 to confirm a bullish trend towards 2,484 and 2,493. Surpassing this level could initiate a strong bullish movement.
Bearish Scenario:
Stabilization below 2,466 may trigger a decline to 2,450, indicating a potential for a strong bearish correction.
Key Levels:
- Pivot Line: 2,466
- Resistance Levels: 2475, 2484, 2493
- Support Levels: 2452, 2440, 2428
Today's Expected Trading Range: The price is anticipated to fluctuate between 2,484 and 2,450.
Tendency: Bearish Correction down to 2,450
previous idea:
Technical Analysis: Gold
Current Outlook: The price advanced as predicted, and to maintain the bullish trend, a break above the all-time high (ATH) of 2,475 is necessary to target 2,484 and 2,493.
Bullish Scenario:
The price needs to break above 2,475 to confirm a bullish trend towards 2,484 and 2,493. Surpassing this level could initiate a strong bullish movement.
Bearish Scenario:
Stabilization below 2,466 may trigger a decline to 2,450, indicating a potential for a strong bearish correction.
Key Levels:
- Pivot Line: 2,466
- Resistance Levels: 2475, 2484, 2493
- Support Levels: 2452, 2440, 2428
Today's Expected Trading Range: The price is anticipated to fluctuate between 2,484 and 2,450.
Tendency: Bearish Correction down to 2,450
previous idea:
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~6 analyses per day. With a clear entry point
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SM World and Economy News 24/7
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