Gold is currently showing signs of a downward move. Here’s the key analysis:
- Target level: 4,190
- Pivot level: 4,245
- Resistance level: 4,265
Our Preference
We recommend short positions below 4,245, with targets at 4,204 and 4,190 in extension.
Alternative Scenario
If Gold breaks above 4,245, we could see further upside potential, with targets at 4,265 and 4,290.
Comment
As long as the resistance at 4,245 holds firm, the risk of breaking below 4,204 remains high. Monitor the resistance closely for potential direction shifts.
Stay cautious and consider the risk-reward ratio in your trades!
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
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