🏆 Gold 17th March 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 2,984

Market Context: Gold trades above immediate support at 2,979 (Daily BUY/Support1) but below critical resistance at 3,004 (Weekly SELL/Resistance1).

📊 Key Technical Levels

Immediate Resistance (Sell Zones):

🔴 3,004 (Weekly R1) → Breakout triggers bullish momentum

🔴 3,015 (Daily R3) → Major swing high

Immediate Support (Buy Zones):

🟢 2,956 (Weekly Pivot) → Strong accumulation zone

🟢 2,979 (Daily S1) → Short-term bounce level

💹 Technical Indicators Snapshot

RSI: Neutral at 48 (No divergence observed)

MACD: Histogram flattening near zero line → Potential trend reversal signal

Fibonacci: 61.8% retracement aligns with 2,956 (Weekly Pivot)

📈 Trade Ideas

Intraday Buy Setup

Entry: 🎯 2,956 (Weekly Pivot)

Stop Loss: ⚠️ 2,908 (Weekly S1)

Take Profit 1: 🎯 3,004 (Weekly R1)

Take Profit 2: 🎯 3,033 (Weekly R2)

Rationale:

Confluence of weekly pivot + 61.8% Fibonacci level

Daily MACD shows bullish crossover potential

Intraday Sell Setup

Entry: 🎯 3,004 (Weekly R1)

Stop Loss: ⚠️ 3,033 (Weekly R2)

Take Profit 1: 🎯 2,956 (Weekly Pivot)

Take Profit 2: 🎯 2,908 (Weekly S1)

Rationale:

Price rejection likely at multi-timeframe resistance (3,004-3,015)

Overbought RSI conditions on 4HR chart

📌 Critical Observations

Swing High/Low:

Daily Swing High: 2,956 | Daily Swing Low: 2,880

4HR chart shows consolidation between 2,956-3,004

Pivot Analysis:

Weekly Pivot (2,956) acts as make-or-break level – sustained trading above this confirms bullish bias.

Risk Management:

Tighten stops if price closes below 2,979 (Daily S1) or above 3,015 (Daily R3).

🚀 Conclusion

Gold remains range-bound between 2,956-3,004 with high volatility near key pivots. The 3,004 level is critical – a daily close above this resistance could fuel a rally toward 3,033. Traders should prioritize risk-managed entries at identified support/resistance zones and trail stops upon hitting TP1.