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Last year produced strong results for gold, consistently recording new all-time highs. However, towards the end of the year, bearish players were able to push gold into a two-month corrective decline. The first full week of January has shown a bullish trend. Gold has reclaimed support at the weekly short-term trend of 2644.58 and has risen into the bullish zone relative to the daily cloud at 2662.95, challenging the potential elimination of the daily Ichimoku dead cross at 2671.05.
If the bulls maintain their momentum, their next targets will be the maximum highs at 2725.57 and 2789.61, followed by the psychological level of 2800.00. For the bearish players to change the current sentiment, significant effort will be required. Several key Ichimoku indicator elements are currently clustered near the price chart, including the daily cross (2671.05 – 2654.21 – 2646.51 – 2637.37), the daily cloud at 2662.89, and the weekly levels (2644.58 – 2622.82). If the bears manage to break through this support zone and consolidate below it, they could target the elimination of the weekly Ichimoku golden cross (2571.21 – 2517.29).
Currently, bulls hold the advantage on lower timeframes. Intraday resistance levels are determined by classic Pivot Points. If there is a corrective decline, key support levels will include the central Pivot Point for the day and the weekly long-term trend. A breakout below the long-term trend could indicate a shift in the balance of power, allowing bears to gain strength and foster further bearish sentiment. Additional support levels for a potential decline are also indicated by classic Pivot Points.
Pivot Point levels are updated daily, and the latest values for the start of the new trading week will be available upon the market's opening.
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*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।
