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Early in the American session, Gold (XAU/USD) is trading around 2,737, reaching the 6/8 Murray zone and the top of the uptrend channel which acts as a strong resistance.
In the chart above, we can see that gold has been trading within an uptrend channel since December last year. On this occasion, it is testing a strong resistance zone. So, we believe that a technical correction could occur in the next few days.
If gold consolidates above $2,734 or above $2,700, the outlook could be positive and we could expect it to reach 7/8 Murray at $2,773.
On the contrary, if gold consolidates below 6/8 of Murray, we could expect the metal to fall towards the 21 SMA located at 2,712 and finally towards 5/8 of Murray located at 2,695.
The eagle indicator is in an overbought territory. Therefore, we could expect a technical correction to occur in the next few days.
*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।
