Hello Everyone here is My Today's #XAUUSD (GOLD) Market Analysis
Please check & share Your opinions in the comments section thanks 🙏
Today, on Monday 20th January 2025 #Gold is currently trading at ( 2707 ) with a key pivot point at 2722. I am supporting the #Sell_Side today as the price remains below key levels.
The market’s next movement depends on its behavior around this critical level.
📉Bearish Scenario: If Gold remains below the pivot point (2722) it will bring Gold towards the following targets:
📉Target 1: 2696
📉Target 2: 2680
📉Target 3: 2670
📉Support: 2666, 2660
Before reaching these targets, Gold may test the First resistance zone at (2714 / 2720) but overall, the bias is to sell.
📈Bullish Scenario: If Gold breaks the pivot point ( 2722 ) and closes a 4-hour candle above it, this could open the path for further upside movement potentially testing the following resistance levels:
📈Resistance : Supply Zone : 2738/ 2744
📈Long-term Resistance: 2750/2760
📊Key Levels:
📊Pivot Point: 2722
📉Target 1: 2696
📉Target 2: 2680
📉Target 3: 2670
📉Support: 2666 2660
📈Resistance: 2714 / 2620
📈Supply Zone: 2738 / 2744
📈Long-Term Resistance 2750 / 2660
📊 Trend Outlook
📉Bearish Trend: Below 2722 & 2700
📈Bullish Trend: Above 2722 & 2730 with a confirmed close in a 4-hour candle
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