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GOLD 25.11.2024
General Trend:
The price is currently in a corrective upward wave after the sharp decline recorded in recent weeks. However, the overall trend remains bearish as long as the key resistance levels at 2710.45 are not broken.
Expected Scenario:
If the price continues to rise, it is likely to face strong resistance at the 2710.45 level, which may limit the bullish momentum and redirect the price back to the bearish path. Should the price fail to surpass this resistance, it may retreat toward the support levels at 2673.71, with the possibility of breaking it to target 2644.96.
Alternative Scenario:
If the price manages to break through the resistance at 2710.45, this could signal a shift in the trend towards an upward movement, potentially targeting higher levels at 2750.
Key Levels:
Resistance: 2710.45
Support: 2673.71 - 2644.96
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
