Hong Kong
2024-12-24 14:40
IndustriyaGold: Consolidation with Upside Potential
Gold followed our expectations last week, rallying sharply within wave C. It approached the $2630–2650 resistance area yesterday, encountering further resistance.
Key Levels:
Immediate Resistance: $2630–2650, with $2641 as a key breakout level.
Immediate Support: $2600–2611.
A break above $2641 could signal a stronger rally toward the $2700 area, completing wave C as part of a broader corrective rebound. However, the market remains range-bound with a slight bearish tilt.
Short-Term View:
Gold may rebound to $2641–2655 if prices hold above $2600–2611.
Long-Term Trend:
The long-term bullish trend remains intact.
In the medium term, gold is expected to trade within a wide consolidation range due to limited momentum and reduced activity during the holiday season.
Without new geopolitical tensions, gold is likely to maintain a neutral to slightly bullish stance this week.
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Kevin Cao
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Gold: Consolidation with Upside Potential
Hong Kong | 2024-12-24 14:40
Gold followed our expectations last week, rallying sharply within wave C. It approached the $2630–2650 resistance area yesterday, encountering further resistance.
Key Levels:
Immediate Resistance: $2630–2650, with $2641 as a key breakout level.
Immediate Support: $2600–2611.
A break above $2641 could signal a stronger rally toward the $2700 area, completing wave C as part of a broader corrective rebound. However, the market remains range-bound with a slight bearish tilt.
Short-Term View:
Gold may rebound to $2641–2655 if prices hold above $2600–2611.
Long-Term Trend:
The long-term bullish trend remains intact.
In the medium term, gold is expected to trade within a wide consolidation range due to limited momentum and reduced activity during the holiday season.
Without new geopolitical tensions, gold is likely to maintain a neutral to slightly bullish stance this week.
Katulad 0
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