Gold Drops Hard – Will 2880 Be the Next Support Test?
Yesterday was marked by significant volatility in Gold.
After reaching an intraday high of 2945, the price plummeted more than 500 pips, hitting a low of around 2890.
As I highlighted in my previous analysis, 2930 was a key pivot level, and breaking below it triggered an accelerated decline. This level has now turned into resistance and was already tested overnight.
Looking ahead, this correction may not be over yet and the price could drop below 2900 again and we could see a test of the 2880 horizontal support level.
I remain bearish on Gold as long as the 2930–2935 zone remains intact. 📉
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
After reaching an intraday high of 2945, the price plummeted more than 500 pips, hitting a low of around 2890.
As I highlighted in my previous analysis, 2930 was a key pivot level, and breaking below it triggered an accelerated decline. This level has now turned into resistance and was already tested overnight.
Looking ahead, this correction may not be over yet and the price could drop below 2900 again and we could see a test of the 2880 horizontal support level.
I remain bearish on Gold as long as the 2930–2935 zone remains intact. 📉
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Transaction en cours
XauUsd is approaching 2900 again
The upside correction could be over and the next leg down could follow
2880 remains my main target
Trade fermée: cible de profit atteinte
2880 reached
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Publications connexes
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.