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XAU/USD is trading around $4,466 above the 21 SMA, consolidating around this area, as a strong technical correction is likely to occur if the price falls below this area.
After the opening of the Asian session, gold underwent a technical correction, finding strong resistance around $4,484 towards $4,450. However, this area coincided with the 21 SMA, which encouraged a technical rebound.
This indicates that gold could continue to rise in the coming days and reach the 5/8 Murray at $4,531 and could even reach its all-time high around $4,445. Finally, the price could surge to the 6/8 Murray at $4,625.
We can see in the chart that gold left a gap around $4,327. If the price falls below $4,460 and consolidates below this zone in the coming hours, it could be the start of a strong technical correction. The instrument will likely reach this level in the coming days and could even fall towards $4,415, where the 200 EMA is located.
Our outlook for gold remains bullish, so if there is a technical rebound at $4,375-4,315, we could open long positions.
At current price levels, we should wait for confirmation to enter short positions only if the price falls below $4,460.
*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।
