Important $TVC:GOLD Support and Resistance Levels

Dear Followers


I hope this message finds you well. We are reaching out to provide you with an update on the latest support and resistance levels for gold, as these technical indicators can be valuable tools in guiding your investment decisions.


Support and resistance levels play a crucial role in understanding the potential direction of asset prices and identifying key entry and exit points. Here's a summary of the current levels for gold:


Support Levels:
1. Short-Term Support: Gold has found support around the $1975-1970 per ounce level in recent trading sessions. This level has served as a crucial support zone, providing a floor for price action during periods of consolidation or pullbacks.

2. Intermediate Support: A slightly stronger support zone lies around the $1905 - $1,900 per ounce range. This level has been tested multiple times in the past and has demonstrated resilience in holding back downward pressure on gold prices.

3. Long-Term Support: For investors with a longer-term perspective, the $1815-1810 per ounce level represents a significant psychological and technical support zone. A breach below this level could signal further downside potential, while a strong bounce could reaffirm bullish sentiment.

Resistance Levels:

1. Short-Term Resistance: The immediate resistance for gold is seen around the $2090 - $2095 per ounce range. This level has acted as a barrier to upside movements in recent weeks, requiring significant buying pressure to overcome.

2. Intermediate Resistance: A key resistance zone lies between $2155 - $2160 per ounce. Breaking above this level could pave the way for a retest of recent highs and potentially signal a continuation of the upward trend.

3. Long-Term Resistance: Gold faces formidable resistance around the $2240-$2250 per ounce mark, a level that has proven challenging to breach in the past. A sustained move above this level could attract renewed investor interest and propel gold to new highs.

It's important to note that support and resistance levels are not static and can shift based on market dynamics and investor sentiment. Therefore, it's essential to monitor price action closely and adjust your investment strategy accordingly.

As always, we encourage you to consult with your financial advisor to assess how these technical indicators align with your investment objectives and risk tolerance.

Thanks and Regards
Prachi M