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Gold is trading around $4,074, rebounding after decisively breaking out of the downtrend channel, and is currently above the 2/8 Murray line and above the 21 SMA.
If gold consolidates above the 2/8 Murray line and above the broken downtrend channel in the coming hours, this could be seen as a positive signal to buy, with targets at the 200 EMA around $4,128.
A decisive break above the 200 EMA could change the outlook for gold, and we could expect it to continue rising in the coming days. The first target could be $4,218 or even the psychological level of $4,500.
Conversely, if gold falls below the 21 SMA and below the 2/8 Murray level, we expect the downtrend to resume. If this scenario occurs, we could expect it to reach the lower band of the downtrend channel around $3,930 and ultimately the 1/8 Murray level around $3,906.
The Eagle indicator is reaching overbought levels, so even if gold reaches the July 21 high around $4,165, this could be seen as a sell signal.
*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।
