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Gold is trading around $4,461, having rebounded sharply after hitting $4,097 during the European session. This strong recovery could push gold toward the upper band of the downtrend channel, which has been forming since March 18 in the range of $4,500 to $4,541.
Given that gold has recovered rapidly, we expect the downtrend to resume, so we will look for opportunities to sell whenever XAU/USD reaches $4,540 or falls below the daily R_1 level around $4,520.
Given that gold is struggling to continue rising, the area of $4,541, the 21 SMA, and the 7/8 Murray line could act as a strong barrier for gold; a move below this zone could be seen as a selling opportunity.
If, in the coming hours, gold pulls back toward the 6/8 Murray level at $4,375 and consolidates above this zone, it could be seen as a buy signal with targets at $4,541 and $4,628.
Our trading plan is to buy gold in the coming hours, but we should wait for a technical correction toward $4,375 or sell if the price reaches levels above $4,500 and toward $4,541.
*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।
