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Gold is trading around 4,127 and may be forming a bullish channel, although it could struggle to break above $4,151. Therefore, we should closely monitor this area, as a move below this level could lead to a continued decline toward the Murray 2/8 level, around $4,062.
A consolidation above $4,151 in the coming hours could support a recovery in gold. We could expect it to reach the Murray 3/8 level, around $4,218, and eventually reach the 200 EMA, around $4,249.
Conversely, if gold continues to fall, we could sell on a pullback toward $4,151; below this zone, targets would be at about $4,062.
The Eagle indicator is reaching overbought levels and showing a negative signal, so we must be cautious, as downward pressure on gold could intensify in the coming days, and we could expect it to reach the psychological level of $4,000.
Gold and crude oil have an inverse correlation; since crude oil is showing a positive signal, we can expect strong downward pressure on gold in the coming days.
Therefore, as long as the metal trades below the 3/8 Murray level, this would be considered an opportunity to open short positions.
*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।
