Gold directionless as of now..

已更新

2335 to 2290 Is going to be a Crucial Zone.

If Respected,

2 Possible Scenarios

Green - 2466 Zone could be tested

Yellow - Some more consolidation before the Next Lower Low around 2170

If Broken

1 Possible Scenario

Red - 2220 Zone could be tested.

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A retracement of 0.23 might be just enough for the fall that began from 2450 levels.

If gold sustains below 2350, may be 2310 2290 zone could be tested in coming sessions

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Trend Reversal Underway on smaller time frame. Confirmation on sustaining above 2340

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That's some bounce from 2335

Zone mentioned in weekly analysis.

Let's see if there is follow up buying

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Weak price action,

Opening doors to 2310 2290

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On sustaining below 2334

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2317 first Target.

Observe price action around 2317 to decide Further direction of Gold

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2320 zone has been respected and there has been decent buying from this zone.

Again another level mentioned in weekly analysis.

If there is follow-up buying.. Which looks like the current scenario, then more Bullishness is Possible.

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2317 has not been tested. Some error on my side in marking the level.

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Green Scenario could be in play

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This analysis is still valid for coming week.

Keep a watch in this zone 2320 to 2290.

It will be make or break.

If respected, then As mentioned last week, Green scenario could be in Play

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Green/Yellow if respected

Red if Broken

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Respected as of now

The mentioned zone.

Let's see if there is followup buying

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Now if Gold sustains above 2325 2320, Then Higher Highs are possible.

Bearishness resumes below these levels only

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Above 2355 More Bullishness is possible

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2400 2410 area to watch for above 2380

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2350 2340 could be value area to long

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As mentioned
2400 2410 is On

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Gold remained just shy of 2400 as it reversed from 2387.
Taking my Trailing SL.

If gold sustains below 2340, next support is at 2308.

If gold bounces from 2335 zone and sustains above 2340, only then some Bullishness is possible.

Else, 2308 could be tested and if volatility sets in, lower levels at 2290 cities be tested.

Below 2290, Hell Breaks down

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2308 done

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Unless gold trades above 2320

More bearishness is possible.

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Above 2320, 2350 could be tested

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2280 could be tested if Gold Sustains below 2305

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Below 2280, 2220 could be tested