GOLD / Dropped $47 and Reversed, Again Bearish Momentum
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Gold Technical Analysis
The price dropped and reached our targets 2623 and 2613 and reversed quickly, as we mentioned yesterday,
Today also has a bearish momentum as long as trades below 2653 will drop to get 2623 and 2612, below 2612 will touch 2585, and we have the retest possibility to 2653.
To be a bullish trend till 2661 and 2678, the 4h candle should be closed above 2653.
Key Levels:
Pivot Point: 2641
Resistance Levels: 2653, 2661, 267
Support Levels: 2624, 2612, 2585
Trend Outlook
Bearish Momentum: Dominant as long as the price remains below 2649 and especially 2638.
previous idea:
The price dropped and reached our targets 2623 and 2613 and reversed quickly, as we mentioned yesterday,
Today also has a bearish momentum as long as trades below 2653 will drop to get 2623 and 2612, below 2612 will touch 2585, and we have the retest possibility to 2653.
To be a bullish trend till 2661 and 2678, the 4h candle should be closed above 2653.
Key Levels:
Pivot Point: 2641
Resistance Levels: 2653, 2661, 267
Support Levels: 2624, 2612, 2585
Trend Outlook
Bearish Momentum: Dominant as long as the price remains below 2649 and especially 2638.
previous idea:
Transaction en cours
GOLD
UPDATE
The price reached our target was 2623 and reversed to their resistance at 2643 again, now still trades below 2643 and 2653
That means as long as trades below 2653 will touch 2623, to be fully bearish should break 2623 to get 2612.
Otherwise breaking 2653 by closing 4h above it, will support bullish toward 2661 and 2678
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