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Gold is trading around $4,192 under downward pressure after reaching a high of $4,240. Gold could rebound above $4,180 and reach the top of the trend channel around $4,230.
According to the H4 chart, we can see that gold is within a downtrend channel formed since November 26. Thus, if a pullback towards $4,230 (top of the downtrend channel) or towards the 7/8 Murray located at $4,215 occurs, it will be seen as an opportunity to resume selling.
Gold is likely to reach the bottom of the downtrend channel around $4,103 in the coming days and could even reach the 200 EMA around $4,090. Finally, XAU/USD is expected to reach 6/8 Murray around $4,062.
Given that the Eagle indicator is showing a negative signal while the instrument is trading below the downtrend channel, any spike or technical rebound will be seen as a signal to resume short positions.
The medium-term outlook remains bearish, and gold is expected to reach the psychological level of $4,000.
*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।
