GOLD: Watching The Support Zone for the Next Move

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GOLD: Watching The Support Zone for the Next Move

Gold has pulled back sharply after yesterday’s aggressive selloff, but price is now sitting right on a strong support zone.

This area aligns with the previous structure and could act as a launch point if buyers step back in.

If this zone holds, gold may attempt another push toward the 4,150 resistance and potentially break higher into the upper targets.

However, a break below the support could expose the 4,025 level and even the deeper psychological zone near 3,900.

Key Targets :

4,150
4,230
4,296
4,361

You may find more details in the chart!
Thank you and Good Luck!

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Giao dịch đang hoạt động

17 thg 11

Ghi chú

📣GOLD Price Outlook

Gold remained relatively unchanged on Monday as traders looked ahead to a heavy lineup of U.S. economic releases that could offer clues about the Federal Reserve’s future rate decisions. This comes after the metal dropped more than 2% in the previous session amid fading expectations for near-term rate cuts.

Prices are holding firm, supported by safe-haven demand as investors turn to gold to shield themselves from ongoing market uncertainty. This renewed interest helped counterbalance the pressure from a stronger U.S. dollar and diminished hopes for Fed easing.

Meanwhile, Morgan Stanley forecasts that gold could reach $4,500 per ounce by the end of 2025.

Gold remains well supported by a bullish sentiment as long as it defends the 4050 support area.

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Ghi chú

GOLD Bulls Have The Price Control

From our analysis yesterday, gold fell just below 4000, creating panic for a bigger sell-off.

Apparently, the sell-off created yesterday evening had no strong reason. It was just a strong sell-off for big companies to buy at a lower price. We have seen this scenario often recently.

So far, the price has risen again and in a clear way above the support area near 4030, showing clear signs of a reversal.

Let's hope that Gold maintains this strong bullish momentum.