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Gold is trading around $5,170 within the uptrend channel formed since early March and consolidating above $5,150.
Gold is going on with a technical correction in the coming days until it reaches the lower band of the uptrend channel around $5,050.
If gold consolidates below $5,163 in the coming hours, the outlook could be negative, which could be seen as a signal to sell with a target at $5,018 around the daily S_1 support. The instrument could eventually reach $5,060 around the 200 EMA.
Conversely, if gold consolidates above $5,170, we could expect the bullish cycle to resume. The final target could be $5,250, the area where the top of the upward trend channel is located, which is currently acting as strong resistance.
Given that the Eagle indicator has reached oversold levels, gold is technically expected to continue rising in the coming days and could even reach the +1/8 Murray around $5,313 and finally reach the February high around $5,450.
Our strategy for the coming hours will be to buy gold as long as the price consolidates above $5,160, with targets at $5,190, $5,210, and finally at the top of the uptrend channel around $5,265.
*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।
