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Gold is trading around $5,072, rebounding after reaching $5,000 on August 8, around the psychological level. From its peak of around $5,104, gold underwent a sharp technical correction.
Yesterday, during the US session, gold fell more than $100, but managed to recover some of its losses and could now consolidate around $5,070. It is likely to continue rising in the coming days until it reaches the +1/8 Murray located at $5,156.
Given that gold is showing negative signs, a technical correction is expected in the coming hours, and the instrument could reach the psychological level of $5,000. We could expect a technical rebound around the 21 SMA located at $4,981.
A break above $5,080 could favor gold's recovery, and we could expect it to reach $5,104 and even $5,156.
A sharp break and consolidation below 8/8 Murray and below the 21 SMA could signal a change in the gold trend. We could expect XAU/USD to reach the 7/8 Murray at $4,843, and it could even reach the 6/8 Murray at $4,687.
We must remember that gold left a gap around $4,500. Gold will likely fall and cover this gap in the coming daysas a strong technical correction is probable.
*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।
