From TradingView · · 50s
Gold price holds demand but downtrend intact
Gold price holds demand zone but downtrend remains intact.
In brief
Gold price holds demand zone but downtrend remains intact. Gold price sits at 4,155 holding a demand zone between 4,000 and 4,110 while the downtrend continues. Originally reported by TradingView.
Gold price holds demand zone
Gold price sits at 4,155 holding a demand zone between 4,000 and 4,110 that held summer lows.
Downtrend remains intact
Daily Supertrend remains short at ~4,360 with price resting on demand zone.
Key resistance levels
Resistance levels include 4,198 (EMA 21) / 4,253 (EMA 50) / 4,296-4,327 (EMA 200 + yearly open) / 4,360 (Supertrend) / 4,511 (last month's high).
Scenario analysis
Bullish scenario: price holds demand zone and closes above 4,253 EMA 50 to target 4,327-4,360.
The key point
Gold price sits at 4,155 holding a demand zone between 4,000 and 4,110 while the downtrend continues.
