Gold Still Looking weak
Gold prices have shown weakness, with the market currently positioned below key resistance levels, suggesting a bearish outlook in Intra day. The immediate resistance is seen at the previous support level around 2620-2625, which may act as a psychological barrier for the price to overcome.
Immediate Resistance: 2620-2625 - This level has previously acted as support but now could serve as resistance. A move above this could signal a potential short-term recovery.
Immediate Support: 2588 - This level corresponds to the close on FOMC day, representing a critical support area where buyers might step in if the price tests this level again.
If gold fails to hold above the FOMC day close, there's a risk of further downside also 2580 level acting as a key trendline support, where a failure could lead to more significant declines. The next significant support to watch is around 2568 or a potential move towards 2569 (Fib extension 0.618) if current trends persist, and further levels down to 2537 (November's low), which is a high volume node where buying interest might re-emerge. A break below this could lead to further declines, targeting lower supports; For a bullish signal, gold would need to convincingly close above 2650 if it reverse without breaking 2588 on day close.
Immediate Resistance: 2620-2625 - This level has previously acted as support but now could serve as resistance. A move above this could signal a potential short-term recovery.
Immediate Support: 2588 - This level corresponds to the close on FOMC day, representing a critical support area where buyers might step in if the price tests this level again.
If gold fails to hold above the FOMC day close, there's a risk of further downside also 2580 level acting as a key trendline support, where a failure could lead to more significant declines. The next significant support to watch is around 2568 or a potential move towards 2569 (Fib extension 0.618) if current trends persist, and further levels down to 2537 (November's low), which is a high volume node where buying interest might re-emerge. A break below this could lead to further declines, targeting lower supports; For a bullish signal, gold would need to convincingly close above 2650 if it reverse without breaking 2588 on day close.
Nota
Still Looking weak to me Freefall if breakdown from 2588...Silver already showing some sign from yesterdayNota
Price struggling to breakout from CPR area 
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