GOLD Technical Analysis: Consolidation and Key Breakout Levels
GOLD Technical Analysis: Consolidation and Key Breakout Levels
The price has reached the supply zone at 2674, which was the previous bullish target.
Now, the price is expected to consolidate between 2674 and 2661 until a breakout occurs.
- A 4-hour candle close above 2674 will support a bullish move towards 2685 and 2706.
- A 1-hour candle close below 2661 will confirm a bearish move, with potential targets at 2644. A break below 2644 could extend the decline further to 2625.
Key Levels:
Pivot Point: 2674
Support Levels: 2661, 2644, 2625
Resistance Levels: 2684, 2706, 2712
Trend Outlook:
- Bearish by stability below 2674
- Bullish above 2674 and 2684
The price has reached the supply zone at 2674, which was the previous bullish target.
Now, the price is expected to consolidate between 2674 and 2661 until a breakout occurs.
- A 4-hour candle close above 2674 will support a bullish move towards 2685 and 2706.
- A 1-hour candle close below 2661 will confirm a bearish move, with potential targets at 2644. A break below 2644 could extend the decline further to 2625.
Key Levels:
Pivot Point: 2674
Support Levels: 2661, 2644, 2625
Resistance Levels: 2684, 2706, 2712
Trend Outlook:
- Bearish by stability below 2674
- Bullish above 2674 and 2684
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