XAUUSD- Bearish Continuation or Reverse...
GOLD
Technical Analysis
Gold recently dropped below a key pivot level, signaling a potential bearish continuation. Notably, as we mentioned yesterday already dropped about 85$
Bearish Scenario: If Gold remains below the pivot at 2677, further declines are expected toward the support levels of 2644 and potentially down to 2629. Stability below 2629 would reinforce bearish momentum, targeting 2587 as the next level.
Bullish Scenario: A move above 2677 may trigger a bullish rebound, with an initial target at 2695. Sustained trading above 2706 would suggest further upside potential, aiming toward 2749.
Key Levels:
Pivot Point: 2677 - 2668
Resistance Levels: 2695, 2706, 2720
Support Levels: 2645, 2629, 2606
previous idea:
Technical Analysis
Gold recently dropped below a key pivot level, signaling a potential bearish continuation. Notably, as we mentioned yesterday already dropped about 85$
Bearish Scenario: If Gold remains below the pivot at 2677, further declines are expected toward the support levels of 2644 and potentially down to 2629. Stability below 2629 would reinforce bearish momentum, targeting 2587 as the next level.
Bullish Scenario: A move above 2677 may trigger a bullish rebound, with an initial target at 2695. Sustained trading above 2706 would suggest further upside potential, aiming toward 2749.
Key Levels:
Pivot Point: 2677 - 2668
Resistance Levels: 2695, 2706, 2720
Support Levels: 2645, 2629, 2606
previous idea:
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