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Early in the American session, gold (XAU/USD) is trading around 2,649, near the 21 SMA area, and below the downtrend channel forming on the H4 chart since September 24. So, we notice that gold maintains bullish momentum.
Gold is also trading within the bullish trend channel forming since September 10 and is likely to continue its upward movement in the coming days if the price consolidates above 2,650.
Gold left a gap at about 2,663.39, opening on Monday. Pn the 5M chart, we see that gold has not covered this gap. Therefore, the metal is likely to have a strong bullish move in the coming days. The price could break 2,670 and could even reach 3/8 Murray at 2,734.
On the other hand, a consolidation below 2,640 on H4 chart and a break below the low of 2,625 could change the outlook for gold and it could reach the psychological level of 2,600. Finally, if the price breaks the bottom of the downtrend channel, it could reach the 200 EMA around 2,570.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
