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Gold is trading around $4,419 with a strong upward movement after the opening of this week's session. Gold is approaching the weekly resistance level of $4,435. Hence, after this strong upward momentum, there will be a sharp technical correction in the coming days.
Gold has strong resistance around $4,430-4,435, which could act as a barrier, so we could expect a technical correction in the coming hours.
If the price is rejected in this area, it will be seen as an opportunity to open short positions with a target at the 8/8 Murray around $4,375. Finally, we expect the price to cover the gap left at the close of last week around $4,339.
A consolidation above $4,430 could mean strong upward momentum for gold. Therefore, it could reach +1/8 Murray around $4,531 in the short term.
The Eagle indicator is showing signs of extreme overbought conditions, so we expect a technical correction in the coming hours towards the psychological level of $4,400.
Since the opening of trading this week, gold has gained more than $90 from that initial price and is now facing the possibility of a technical correction. We must be cautious about it. Gold could return to the support level of $3,330 in the coming days.
*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।
