From TradingView · · 40s
Gold Testing Key Support Level
Gold price nears critical support on daily chart as traders watch for bullish or bearish move.
In brief
Gold price nears critical support on daily chart as traders watch for bullish or bearish move. Gold is testing 4165 support level on daily chart with potential to rebound to 4255 or drop to 3982. Originally reported by TradingView.
Gold Testing Support
Gold price currently testing 4165 support level on daily chart.
Bullish Scenario
If channel floor holds, price targets 4255 then 4592 then 4955.
Bearish Scenario
Break below 4165 could lead to 3982 support with potential swing recovery.
Trading Plan
Watch for channel floor hold or break with targets at 4255 and 3982.
The takeaway
Gold is testing 4165 support level on daily chart with potential to rebound to 4255 or drop to 3982.
