Daily GOLD Forecast – 6.2.2024

GOLD Signals TEAM February 5, 2024 GOLD Forecast

The technical analysis suggests a bearish sentiment for #GOLD. Most oscillators signal a sell, with momentum and MACD indicating potential buying opportunities. Moving averages present mixed signals, while pivot points unanimously signal a sell. The Gold Forecast is inconclusive. Traders are advised to exercise caution, waiting for clearer market direction.

🟨 Daily GOLD Forecast – 4.12.2024

XAUUSD is poised for a potential decline. A test of the resistance line on the RSI indicator and a rebound from the upper border of the "Head and Shoulders" reversal pattern could trigger this movement.

A decisive break below the 2605 support level would confirm the bearish scenario and open the way for a further price drop towards the pattern's target levels.

However, a strong price surge above 2715 would invalidate the bearish outlook and signal a potential rally towards the 2765 resistance level.

In the short term, a bullish correction towards 2655 is possible, followed by a resumption of the downward trend.

Posted: December 4, 2024 at 7:20 am

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Daily GOLD Forecast – 6.2.2024

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