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Gold Market Analysis
Current Trend
Short-term: Upward trend since August.
Long-term: Part of a larger upward impulse.
Recent Movement: Sideways correction since late September, not yet complete.
Forecast
Start of Next Week: Anticipated end of the upward move.
Post-Correction: Potential for a reversal near resistance zones.
Key Levels
Resistance Zones:
- 4005.0
- 4025.0
Support Zones:
- 3890.0
- 3870.0
Recommendations
Buy Position:
Premature: Wait until the correction is fully complete before considering purchases.
Sell Position:
Strategy: Consider selling in fractional volumes once confirmed reversal signals appear near the resistance zones.
Action Points
- Monitor the correction: Wait for confirmation that it has completed.
- Watch for reversal signals: Near resistance levels (4005.0 and 4025.0) for potential selling opportunities.