Gold is testing a key demand zone (2,835 - 2,842) after a strong downtrend. This area aligns with previous support and Fibonacci confluence.
🔹 RSI at 26.61 – deeply oversold, indicating a possible bounce.
🔹 Fib Levels – Price is near the 0.236 retracement (2,855) and may target 0.5 - 0.618 levels (2,878 - 2,887).
🔹 EMA Cluster Resistance – The 20/50/100 EMAs align near 2,854 - 2,858, making this a key breakout zone.
🔹 Descending Channel – A breakout above the upper trendline could confirm bullish momentum.
📌 Entry: Around 2,842 - 2,835
🎯 Targets: 2,864 / 2,878 / 2,891
🛑 SL: Below 2,830
📊 Risk/Reward: 4.03
Break above 2,858 could push further, while failure to hold 2,835 may lead to 2,820 levels. Watching for confirmation! 🚀
Thoughts? Are you bullish or still bearish? 👇
🔹 RSI at 26.61 – deeply oversold, indicating a possible bounce.
🔹 Fib Levels – Price is near the 0.236 retracement (2,855) and may target 0.5 - 0.618 levels (2,878 - 2,887).
🔹 EMA Cluster Resistance – The 20/50/100 EMAs align near 2,854 - 2,858, making this a key breakout zone.
🔹 Descending Channel – A breakout above the upper trendline could confirm bullish momentum.
📌 Entry: Around 2,842 - 2,835
🎯 Targets: 2,864 / 2,878 / 2,891
🛑 SL: Below 2,830
📊 Risk/Reward: 4.03
Break above 2,858 could push further, while failure to hold 2,835 may lead to 2,820 levels. Watching for confirmation! 🚀
Thoughts? Are you bullish or still bearish? 👇
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.