Gold's (xauusd) perspective for starting the week

24 Kas 2024

Key Observations:

Ascending Channel: Gold is trading within a well-defined upward channel. The recent rejection near the upper boundary confirms resistance at higher levels.

Pullback Underway: The price has shown a pullback from the highs and is approaching the internal trendline around $2,642, which could act as interim support.

Major Support Zone: The key support zone lies between $2,500-$2,550, coinciding with the lower boundary of the channel. This area is crucial for maintaining the bullish structure.

Expected Movement:

• The price may first retest $2,642, followed by another drop to the $2,500-$2,550 support zone.
  
• A bullish bounce from this zone would reaffirm the long-term uptrend.
  
• Bearish Scenario: A break below the $2,500 support zone could invalidate the ascending channel, exposing gold to deeper declines.
  

25 Kas 2024

İşlem aktif

it starts the downward movement!

26 Kas 2024

Not

it is toward the blue area