Gold Update (XAUUSD) reached important Key Zone

Gold is currently at a crucial point where it's encountering strong resistance. The key levels to watch On the 4-hour chart.


Resistance Levels:

Resistance 1: 2071-2074
Resistance 2: 2081-2090
Resistance 3: 2172-2190

On the 4-hour timeframe, the Center of Gravity (COG) is situated between 2042 and 2038.

Support Levels:

Support 1: 2015-2006
Support 2: 1994-1986

Bias:

Bearish Scenario:
A bearish stance is recommended if the price remains below 2074-2082, with a target of 2024. Falling below this level would be considered extremely bearish, with a potential target of 1988.

Bullish Scenario:
A bullish outlook is suggested if the price rises above 2042, targeting 2082. Crossing this level would be considered extremely bullish, with potential targets at 2135-2174.

Commentaire:

gold nearby 4-hour timeframe, the Center of Gravity (COG) 2042 and 2038.

its time to book some partical Profit

Trade fermée: cible de profit atteinte:

target reached 2024