Post
· Views 34
🌀 *XAU/USD Gold Market Outlook for October 8, 2024* 📍 *Market Overview*  ▪️ Gold is trading near $2,645, showing slight bearish tendencies. Breakout range: $2,674 - $2,624. 📊 *Technical Analysis*  ▪️ Breakout possible above $2,650 resistance. ▪️ Oscillators on daily charts remain positive. ▪️ Immediate resistance at $2,673. ▪️ Next resistance at $2,685. ▪️ Immediate support at $2,652. ▪️ Next support at $2,638. ▪️ Final support at $2,613. 🔍 *Fundamental Analysis*  ▪️ Gold’s price influenced by interest rates and inflation outlook. ▪️ Geopolitical tensions boosting demand for safe-haven assets. 🤔 *Market Sentiment*  ▪️ Optimism for further price increases. ▪️ Some traders see resistance levels as selling opportunities. 📅 *Key Event* ▪️ FOMC Meeting tomorrow at 11:30 PM IST. 📊 *Support Levels* ▪️ $2,636 ▪️ $2,624 ▪️ $2,613 📈 *Resistance Levels*  ▪️ $2,666 ▪️ $2,674 ▪️ $2,685 💡 *Key Insights*  ▪️ Gold remains highly volatile; stay updated for any shifts. 📊 *Conclusion* ▪️ A bullish trend may follow if prices break above only $2,650.Or else Sell on Rise could be the strategy. Focus on buying near key supports and selling at key resistances. ⚠️ *Disclaimer*  ▪️ Educational content only, not financial advice. Trading involves risk. 📱 Contact ▪️ WApp: +91 9500930700 for inquiries.

Edited 08 Oct 2024, 09:19

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

avatar

Hot

No comment on record. Start new comment.