Gold Struggles at Resistance: Reversal Ahead?
Gold is currently trading around $2,915, hovering near its key resistance at $2,925. The market has failed to break above this level, indicating strong selling pressure and potential downside risks.
On the technical side, price action shows a familiar pattern, where previous attempts to break resistance resulted in sharp declines towards support. If history repeats, gold may face further selling pressure, targeting the $2,887 support zone. A breakdown below this level could open the door for a deeper correction towards $2,850.
Additionally, the RSI indicator suggests a neutral momentum, meaning a decisive move in either direction could be triggered soon. Traders should watch for a confirmed breakdown or a potential bounce from support before taking action.
What’s your outlook? Will gold hold its ground or head lower?
On the technical side, price action shows a familiar pattern, where previous attempts to break resistance resulted in sharp declines towards support. If history repeats, gold may face further selling pressure, targeting the $2,887 support zone. A breakdown below this level could open the door for a deeper correction towards $2,850.
Additionally, the RSI indicator suggests a neutral momentum, meaning a decisive move in either direction could be triggered soon. Traders should watch for a confirmed breakdown or a potential bounce from support before taking action.
What’s your outlook? Will gold hold its ground or head lower?
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⭐️I am here to help you make money:
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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.