Gold Price Action Key Points

6 janv.

Gold Price Action Key Points

• Small bodied candles at current levels indicating indecision
  
• Previous strong green candles with good bodies showing buyer conviction
  
• Recent red candles haven't created significantly lower lows, suggesting controlled selling

Key breakout level above: 2,671
Critical support zone: 2,633-2,640,This is currently acting as a solid floor and has been tested multiple times recently
Volume Analysis:
Increasing volume on upward movements
Lower volume on pullbacks, suggesting less selling pressure
Overall : The price action suggests a bullish bias with controlled pullbacks and strong support levels and The overall structure remains bullish as long as price stays above the marked support zone , On breakdown the support we have to wait for confirmation from lower levels on breakdown 2,602 ( S1) - This could act as a secondary support if we see a pullback.

7 janv.

Note

Price is trading in sideways/Consolidaion range as on Jan 07, 2025 and soon we will get confirmation of buy move