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Gold 16.10.2024
General Trend:
The overall trend appears to be bullish at the moment, as the price has broken through a significant resistance level around 2670, indicating strong upward momentum. If the price continues to hold above this resistance, further gains are expected.
Expected Scenario:
If the price remains above 2670.21 and confirms the breakout, we could see further upward movement towards the next resistance levels around 2682.92.
Alternative Scenario:
If the price fails to maintain the bullish momentum and falls back below 2670, we might see a bearish reversal towards the support levels at 2623.31, and then to the support at 2602.47.
Key Levels:
Resistance: 2670.21 - 2682.92
Support: 2623.31 - 2602.47
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
