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Early in the American session, gold is trading around 3,120 around 8/8 Murray, reaching resistance levels. We believe gold could make a strong technical correction in the coming hours.
Having found good support around 6/8 of the Murray 2,968, gold made a strong technical rebound to the area of 3,130. Thus, we believe the yellow metal could resume its bearish cycle.
Technically, gold's strong rally was driven by market fears and its status as a safe-haven asset. Now, the global appetite for risk represents an opportunity for bears. If gold falls below the Murray 8/8 level, we could expect a strong technical correction toward the 21SMA located at 3,036.
On the other hand, if gold reaches the 3,145 level, it will be seen as a signal to sell, as this level serves as strong weekly resistance. Therefore, we believe this level could act as a barrier to the gold price and will be seen as a signal to sell.
The Eagle indicator is reaching oversold levels and is giving a negative signal. So, we will look for opportunities to sell below 3,145 or below 3,131 with a target at 3,036.
*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।
