This week, there are several factors that could contribute to gold’s potential upward movement towards 1860. The ongoing conflict between Israel and Palestine could have a positive impact on gold.
Gold currently has resistance levels at 1836-1844, and if these are broken, it could reach targets of 1860 and 1864. Its support levels are currently at 1804-1814, and if these are broken, the next support level could be at 1790. Comment: If the gold price can stay above 1846, it may be able to reach the next targets 1857 -1863. Comment: If gold moves downwards and falls below 1846, there is good support for it around 1831-1837. Trade closed: target reached: Our target range for gold was between 1857 to 1863, which it has reached. However, its price may decrease slightly from now on. The current support range is between 1846 to 1849, and the next resistance level is between 1876 to 1880. Comment: If gold can break 1865, it may continue to the next resistance level of 1876-1880.
If gold wants to move downwards, it can come down to its support level of 1849-1846, which is a good range for buying. Comment: Gold has reached our TP (1876-1880)
If it can break this range, the next resistance level is at 1885. The support levels are at 1857-1863. Comment: Gold has reached one of its most important resistances in 1885, and if it cannot break through this resistance, we can expect a downward movement. However, if this resistance is broken, we can expect to see 1890 and 1900 ahead. Comment: Sell targets: 1876 – 1870 – 1865 Comment: Sell tp1 and tp2 Done 🙂 Comment: Gold has reached its downtrend trendline in the 12-hour timeframe. If this trendline is broken, our target is 1944-1953.
