The recent US release are bad for GOLD, leading to a breakout from its established trend channel. This break signifies a shift in market sentiment and warrants our attention as potential traders. Additionally, the price has fallen below two crucial support levels, situated at 1954 & 1963, and these levels may now act as resistance zones.
GOLD hasn't yet touched a critical support area located around 1940. Historically, this level has shown significant relevance in the past, acting as a reliable support zone during previous price fluctuations.
My goal is 1941.11 there is a strong possibility that the price may gravitate towards this zone for a potential support test.
GOLD hasn't yet touched a critical support area located around 1940. Historically, this level has shown significant relevance in the past, acting as a reliable support zone during previous price fluctuations.
My goal is 1941.11 there is a strong possibility that the price may gravitate towards this zone for a potential support test.