Gold Support and Resistance Levels

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Gold Market Analysis

Key Support Level: 2480

Current Bias: Bullish

Change in Bias: The market remains bullish while the price is above the 2480 level. If the price breaks and sustains below this support, the bias would shift to bearish.

Immediate Resistance Level: 2530

Current Price Action: Monitor the price behavior around this level. If gold approaches 2530, watch for potential resistance. A breakout above this resistance could suggest further upside potential.

Upside Targets:
2580
2600

Immediate Support Level: 2480

Observation: If gold breaks above 2530, the next resistance levels to watch are 2580 and 2600. These targets are based on the continuation of the bullish trend if the price maintains momentum.

Downside Targets:
2450
2430

Observation: If the price falls below the key support level of 2480 and sustains below it, the bearish outlook would suggest targets at 2450 and 2430. These levels represent potential areas of further support.
Volatility Considerations:

Sustained Moves: Pay attention to price action and volume around these key levels. A strong, sustained move below 2480, combined with increased volatility, would reinforce the bearish outlook and target the lower levels mentioned.

Summary:

Bullish Scenario: While above 2480, gold is in a bullish phase with potential upside targets of 2580 and 2600.

Bearish Scenario: A break below 2480 would shift the view to bearish, with targets at 2450 and 2430.

Keep an eye on price behavior around these key levels to refine your strategy and make informed trading decisions.

ノート

At Resistance now watch PA for rejection or sustains above it