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Intraday | Swing Trader with 6 years of experience as a Market Analyst
since Jan 8, 2024
fibonacci
gold
supportandresistance
trendanalysis
trendline
xauusd
xauusdanalysis
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Gold had failed to break above 2700s resistance area and is showing bearish pressure making LHs and LLs. Currently it is a bit choppy but is overall still bearish and is failing to break above 2650s price area. Next target is 2500s price area for the continuation of current trend.
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Price is rejecting an area of resistance while LHs are being maintained. Price is also showing buyers exhaustion, the downside potential is to 75k-74.5k
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Price was a tad bit choppy on gold but the overall sentiment is still bullish. 2556 is my current target for this current strong momentum.
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