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Gold is trading around 2,333, above the 21 SMA, and above 5/8 Murray with a bullish bias. In the H4 chart, we can see that gold made a recovery above 5/8 Murray, reached the top of the bullish channel, and is now falling.
We hope that Gold can continue its rise and reach 2,345 in the next few hours. If a break occurs above this area, we could look for opportunities to buy with a target at 2,375 (6/8 Murray). The metal could finally cover the gap left at 2,391.
In case gold makes a technical correction and reaches the support of 2,312 (5/8 Murray), this will be seen as an opportunity to resume buying and the price could hit the target of 2,375.
The eagle indicator is showing a positive signal, so any pullback will be seen as an opportunity to buy provided that gold trades above 2,312.
On the contrary, if gold consolidates below 5/8 Murray and breaks the bullish trend channel, the current trend could change and we could expect a bearish acceleration. Therefore, the instrument could fall towards the 200 EMA located at 2,270 and finally to 4/8 Murray at 2,250.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
