GOLD / Bullish Momentum with Key Support at 2323

Technical Analysis: Gold

As noted yesterday, the price pushed up from 2323 and reached our target of 2344.

• Current Outlook:
  The trend appears bullish for today, with the price stabilizing above 2323 and 2327. As long as it remains above 2323, it is expected to reach 2354 and 2357.
  
  
• Bullish Scenario:
  - As long as the price trades above 2323 and 2327, the trend remains bullish towards 2357. A break above 2357 could continue the bullish trend towards 2369.
  - There is a possibility of a price correction down to 2327 or 2323.
  
  
• Bearish Scenario:
  - Closing a 4-hour or 1-hour candle below 2323 would indicate a downtrend, with the price moving towards the bearish area around 2303.
  
  
• Key Levels:
  - Pivot Line: 2327
  - Resistance Levels: 2345, 2357, 2369
  - Support Levels: 2311, 2302, 2292
  
  
• Today's Expected Range:
  - The price is anticipated to move between the support at 2323 and the resistance at 2357.
  
  Summary:
  - Maintaining a position above 2323 supports a bullish outlook, targeting higher resistance levels.
  - Conversely, breaking below the support line could shift the trend to bearish, aiming for a lower support zone.

Commentaire:

The price reached our target perfectly about +250 ✅

and now should break 2357 by closing 4h candle to be more bullish till 2369 and 2386
otherwise, as long as trade sunde r2357 means will trade between 2357 and 2344 till breaking

Commentaire:

The price reached the prices we mentioned and dropped about $35, so it is possible to touch 2323 and then push up again, however, the price will trade between 2323 and 2344 till breaking