GOLD - CONFIRMS THE BEARISH TREND

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Gold prices fell for a second straight session on Monday, while investors prepared for U.S. economic data and comments from Federal Reserve officials this week for more clarity on the future direction of U.S. interest rates.

Generally, the direction is a downtrend

Uptrend Side: Dealing with price increases amid the current market movement is challenging. However, if the price reverses for any reason and trades above 2669, it may attempt to approach the resistance level around 2701.

Downtrend Side: breached below the 2670 support level suggests heightened selling pressure, potentially driving the price down to subsequent support levels at 2647, 2633, and possibly further to 2605

Tendency Keys: 2669

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Đóng lệnh: đạt mục tiêu

Dropped by +190 pip, still active toward the first target 2647.

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Ghi chú

600 pip profit

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Ghi chú

Closing 1H or 4H Candle below 2605 will drop again until 2585 and 2566