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Gold is trading around $4,420, showing signs of exhaustion in its upward momentum and consolidating below this strong resistance level at $4,438.
Gold could undergo a sharp technical correction in the coming days, and we could expect it to reach the 4/8 Murray level around $4,375. A decisive break below this area could accelerate the decline, potentially reaching the 3/8 Murray level around $4,218. Ultimately, we could expect it to reach the 200 EMA around $4,176.
During Tuesday's US trading session, gold managed to rebound above the 4/8 Murray level, which provided it with strong upward momentum. However, XAU is currently showing overbought conditions, so we expect the upward momentum to wane or the consolidation around this zone.
Given that there is strong resistance around $4,436, and we could expect a double-top pattern to form, both levels could present an opportunity to sell below this zone.
Given that the Eagle indicator has reached the 90-point zone—which suggests a technical correction in the coming days—we should exercise caution when buying, as the best option might be to sell below $4,440 with a stop-loss above $4,470.
*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।
