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The gold chart shows it's in the midst of a sharp decline and is likely to continue its downward movement until it reaches the lower band of the descending trend channel around $4,288 in the coming days.
If gold consolidates below $4,375 in the next few hours, which represents strong support, we could expect a continuation of the downward movement, reaching the $4,320 weekly support, $4,301 monthly support, and finally $4,288.
We could expect gold to consolidate around $4,320 or $4,300 to anticipate a technical rebound. The trading idea could be to buy around this zone, always with great caution, as bearish pressure persists.
At current price levels, we can sell gold below $4,375, as we observe a breakout of the Murray 6/8. Therefore, the target price would always be around $4,320 or $4,288.
The Eagle indicator is showing a negative signal, so we believe that gold will continue to fall in the coming days to reach the 5/8 Murray level around the psychological level of $4,000, but before this happens, we should expect a rebound towards the 21-period SMA.
*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।
