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Gold is trading around $4,460, rebounding after reaching a key support zone that coincided with the daily support level around $4,430.
Gold is trading above the 61.8% Fibonacci retracement level, suggesting that a recovery could occur in the coming days if the price consolidates above $4,460.
The outlook for gold is positive, but for this to happen, XAU/USD must overcome the strong resistance at $4,489, where the 21-day SMA is located. If XAU continues to rise in the coming hours and consolidates above $4,490, this could be seen as a positive signal to buy, with targets at the 61.8% Fibonacci extension level around $4,564.
If the upward momentum prevails, we could expect gold to reach the 200 EMA around $4,590. If it breaks above this level, it will ultimately reach the 100% Fibonacci extension around $4,654.
A drop and consolidation below the 61.8% Fibonacci level could signal a negative outlook for gold. So, we could expect it to reach the 6/8 Murray level around $4,375 in the coming days.
Our trading plan for the coming hours is to buy at the current price level of $4,460, and we could place a stop-loss below yesterday's low around $4,430.
*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।
