Gold: Bullish Move Ahead

16 déc. 2024

The gold market has been exhibiting bullish momentum, supported by an upward trendline. After reaching a recent low at approximately 2,611.93 USD, the price has shown signs of a rebound near key Fibonacci levels. The key support area around 2,610.00 USD (0.786 retracement level) is holding strong, and gold is now approaching the 0.50 Fibonacci retracement level at 2,669.02 USD.

If the price manages to break above the 2,669.02 level, the next target would be near the 0.236 level around 2,699.16 USD. The bullish trend could accelerate further if gold surpasses the 2,726.10 USD resistance zone.

Key Levels:

• Support: 2,611.93 USD
  
• Resistance: 2,726.10 USD
  
• Fibonacci Retracements: 2,655.54 (0.618) and 2,669.02 (0.50) act as significant levels for potential breakouts.
  

17 déc. 2024

Transaction en cours

We wait for the breakout support trend line 2643 before going short; if it breaks above 2664, we then buy.

17 déc. 2024

Trade fermée: cible de profit atteinte

Seems like it’s will going down so looking for 2643 to entry short I will add update chart later.

17 déc. 2024

Note

TP for short around 2624 so good luck

17 déc. 2024

Note

Update chart:

17 déc. 2024

Note

GG red now.

19 déc. 2024

Note

Congratulations to everyone who got take profit on short :)