📊 Gold 31st December 2024Daily Analysis Based on Main Key Levels

In this blog post, we provide a comprehensive analysis of Gold as of December 31, 2024. This analysis is essential for traders looking to make informed decisions based on current market conditions.

📍 Daily Current Market Price (DCMP)

The current market price for Gold is 2604. This serves as a critical reference point for identifying trading opportunities.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 2634

Resistance 2: 2642

Resistance 3: 2654

✅ Support (Below DCMP)

Support 1: 2592

Support 2: 2604

Support 3: 2611

📉 Swing Levels

Swing High: 2726

Swing Low: 2583

Summary of Analysis

As of the current market price of 2604, key resistance levels above this price include 2634, 2642, and 2654. The support levels below this price are 2592, 2604, and 2611. Additionally, the swing high is at 2726, and the swing low is at 2583.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 2592

Stop Loss: ❌ 2583

Take Profit 1: 🎯 2604

Take Profit 2: 🎯 2611

📌 Reason for Entry

The price is approaching a key support level at 2592, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 2611

Stop Loss: ❌ 2622

Take Profit 1: 🎯 2604

Take Profit 2: 🎯 2592

📌 Reason for Entry

Resistance at 2611 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!