📊 Gold 28th January 2025 Daily Analysis Based on Main Key Levels

Current Market Overview

The current Daily Current Market Price (DCMP) for Gold is 2740. This analysis highlights key resistance and support levels, along with actionable trade setups based on technical and fundamental analysis.

Key Levels Summary

Resistance Levels Above DCMP (2740)

🔺 Resistance 1: 2785

🔺 Resistance 2: 2808

🔺 Resistance 3: 2845

Support Levels Below DCMP (2740)

🟢 Support 1: 2711

🟢 Support 2: 2688

🟢 Support 3: 2652

Swing Levels

📊 Swing High: 2726

📊 Swing Low: 2689

Trade Setups

💼 Intraday Buy Trade Setup

Entry Price: ✨ 2711

Stop Loss: ❌ 2700

Take Profit 1: 🎯 2730

Take Profit 2: 🎯 2745

Reason for Entry:

The support level at 2711 is below the DCMP, establishing a strong buying zone. This level coincides with significant technical support, indicating potential for upward movement.

💼 Intraday Sell Trade Setup

Entry Price: ✨ 2785

Stop Loss: ❌ 2795

Take Profit 1: 🎯 2770

Take Profit 2: 🎯 2760

Reason for Entry:

The resistance level at 2785 is above the DCMP, indicating a strong selling zone. This level aligns with key technical resistance, suggesting potential for downward movement.

Analysis Summary

Resistance and Support Levels: Key levels derived from technical analysis indicate potential reversal zones. Resistance levels are identified at 2785, 2808, and 2845, while support levels are at 2711, 2688, and 2652.

Fibonacci Levels: The identified support and resistance zones highlight significant retracement and extension levels, providing potential entry points for trades.

RSI Divergence: RSI indicates potential overbought conditions at resistance levels and oversold conditions at support levels, confirming possible reversals.

MACD Crossing: MACD suggests bullish momentum at support levels and bearish momentum at resistance levels, providing additional confirmation for trade setups.

Conclusion

This analysis provides actionable trade setups and key levels to assist traders in making informed decisions in the Gold market. With the current market price at 2740, traders can utilize the outlined resistance and support levels, along with technical indicators, to execute trades confidently.