Technical Analysis: Gold
The price pushed up and reached our target we mentioned yesterday which is 2357, and already stabilized above it.
Current Outlook:
The trend remains bullish today, with the price stabilizing above 2357. As long as it stays above these levels, it is expected to reach 2378.
Bullish Scenario:
As long as the price trades above 2357, it is likely to maintain a bullish trend towards 2365. A break above 2365 could extend the bullish trend to 2378.
Bearish Scenario:
A 4-hour or 1-hour candle closing below 2357 would indicate a downtrend, with the price expected to trade in the bearish zone between 2343
Key Levels:
- Pivot Line: 2357
- Resistance Levels: 2365, 2378, 2397
- Support Levels: 2343, 2337, 2320
Today's Expected Range:
The price is anticipated to move between the support at 2354 and the resistance at 2365, with a bullish tendency.