GOLD 4H / Jackson Hole Symposium - Sensitive Movement

2024年8月23日

Gold Technical Analysis:

Gold futures have regained some ground following Thursday's sharp selloff, the largest single-day decline in a month. Despite the recent dip, the precious metal remains up 17% year-to-date.

Current Outlook:
After a significant drop of over 250 pip, as anticipated in the previous analysis, gold remains under pressure. As long as the price trades below 2500, it is expected to consolidate within the 2500 to 2475 range. The 2475 level is a strong support zone, and a decisive break below this level could signal a bearish shift.

Bullish Scenario:
A sustained move above 2509 could push the price towards 2516 and 2526. For a new bullish trend to emerge, gold must break above 2525, potentially triggering a rally toward 2543 and 2558.

Bearish Scenario:
While the overall bearish trend is distant, a strong correction could occur, driving the price down to 2,484 or 2,475. However, especially stability under 2509 or 2516
The next bearish area will start by stabilizing under 2475

Key Levels:
Pivot Line: 2501
Resistance Levels: 2516, 2525, 2543
Support Levels: 2484, 2475, 2466

Expected Trading Range Today:
The price is anticipated to fluctuate between 2525 and 2475.

Trend: Bearish correction

previous idea:

2024年8月23日

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GOLD update

the price reversed and stabilized above the resistance line which is 2509 so it means will continue the bullish trend toward 2525 as we mentioned in the chart