📈 Gold 4th February 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 2819

Swing High (Daily): 2786 | Swing Low (Daily): 2772

Key Levels Relative to DCMP

Below DCMP (Support):

Immediate Support: 2815 (Weekly Pivot R1)

Strong Support: 2783 (Daily Pivot S1)

Critical Support: 2748 (Weekly Pivot S1)

Above DCMP (Resistance):

Immediate Resistance: 2835 (Weekly Pivot R2)

Strong Resistance: 2842 (Daily Pivot R2)

Critical Resistance: 2868 (Weekly Pivot R3)

Technical Analysis Summary

RSI Divergence: Neutral with slight bullish bias near supports.

MACD Crossing: Potential bullish crossover if price holds above 2815.

Fibonacci Levels: Align with pivot zones; 2783 (38.2% retracement) acts as strong support.

Trade Setups 💼

Intraday Buy Trade

Entry Price: 🟢 2815 (Weekly Pivot R1 turned Support)

Stop Loss: 🔴 2783 (Below Daily Pivot S1)

Take Profit 1: 🟡 2835 (Weekly Pivot R2)

Take Profit 2: 🟢 2868 (Weekly Pivot R3)

Rationale: Price retesting 2815 (former resistance now support) with bullish RSI divergence.

Intraday Sell Trade

Entry Price: 🔴 2835 (Weekly Pivot R2 Resistance)

Stop Loss: 🟢 2868 (Above Weekly Pivot R3)

Take Profit 1: 🟡 2815 (Weekly Pivot R1)

Take Profit 2: 🔴 2781 (Weekly Pivot)

Rationale: Rejection at 2835 resistance with overbought RSI signals a pullback.

Critical Notes

Risk Management: Tight stops advised due to volatility.

Confirmation: Wait for candlestick patterns (e.g., bullish hammer/bearish engulfing) at key levels.

Gold remains range-bound between 2748–2868. Trade setups favor mean reversion at pivots. Stay alert to macroeconomic catalysts! 💥