📊 Gold 28th December 2024 Weekly Analysis Based on Main Key Levels

In this blog post, we provide a comprehensive analysis of the Gold market as of December 28, 2024. This analysis focuses on key price levels and potential trading strategies to help traders navigate the current market environment.

📍 Daily Current Market Price (DCMP)

The current market price for Gold is 2622. This serves as a crucial reference point for identifying trading opportunities.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 2654

Resistance 2: 2673

Resistance 3: 2704

✅ Support (Below DCMP)

Support 1: 2624

Support 2: 2593

Support 3: 2574

📉 Swing Levels

Swing High: 2726

Swing Low: 2583

Summary of Analysis

As of December 28, 2024, the Gold market is currently positioned at 2622. Key resistance levels above this price include 2654, 2673, and 2704. The support levels below this price are 2624, 2593, and 2574. The swing high is at 2726, and the swing low is at 2583.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 2624

Stop Loss: ❌ 2610

Take Profit 1: 🎯 2635

Take Profit 2: 🎯 2645

📌 Reason for Entry

The price is approaching a key support level at 2624, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 2654

Stop Loss: ❌ 2665

Take Profit 1: 🎯 2640

Take Profit 2: 🎯 2630

📌 Reason for Entry

Resistance at 2654 suggests a potential selling opportunity, with targets set below this level.

Conclusion

This analysis provides a concise overview of key levels and trade opportunities for Gold. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights and happy trading!