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Gold is trading around 4,150, around 61.8% of Fibonacci, oscillating between 4,240 (maximum) and 3,996 (minimum).
Gold could resume its bearish cycle in the coming days if it falls below the 61.8% Fibonacci level and could continue to fall in the coming hours if it consolidates below the 21 SMA located at 4,137.
If XAU falls below 4,140, we could expect a further bearish movement towards the 38.2% Fibonacci level located around 4,100. If the bearish pressure prevails, the price could reach 6/8 Murray, which in turn represents strong support as it coincides with the 23.6% Fibonacci retracement.
On the contrary, if gold breaks above the 61.8% Fibonacci level and consolidates above 4,165, we could look for opportunities to continue buying with targets at 7/8 Murray located at 4,218. The instrument could finally reach 4,247, the high of November 12.
*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।
