🏅 Gold 6th March 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP):

2917

Swing High (Daily): 2956 | Swing Low (Daily): 2832

📊 Key Levels Relative to DCMP

🔻 Below DCMP (Support Zones)

Immediate Support: 2900 | 2892 | 2882 (Critical Weekly Pivot)

Stronger Bearish Targets: 2878 | 2835 | 2806

🔺 Above DCMP (Resistance Zones)

Immediate Resistance: 2929 | 2936 | 2950

Strong Bullish Targets: 2956 (Swing High) | 3005

💡 Trade Setups

1️⃣ Intraday Buy Trade

Entry: 🟢 2882 (Weekly Pivot Support)

Stop Loss: 🔴 2835 (Below Swing Low)

Take Profit 1: 🎯 2936 (+194 pts)

Take Profit 2: 🚀 2950 (+168 pts)

Rationale:

Price retesting the weekly pivot at 2882 aligns with Fib retracement support.

Bullish MACD crossover on the 4H timeframe suggests upward momentum.

2️⃣ Intraday Sell Trade

Entry: 🔴 2929 (Key Resistance)

Stop Loss: 🛑 2956 (Above Swing High)

Take Profit 1: 🎯 2878 (-51 pts)

Take Profit 2: 🚀 2835 (-94 pts)

Rationale:

Rejection at 2929 confirms resistance confluence (daily/weekly pivots).

RSI divergence on the 4H chart signals weakening bullish strength.

📈 Technical Analysis Summary

Fibonacci Levels: Price oscillating between 38.2% retracement (2882) and 61.8% resistance (2929).

RSI: Neutral at 48, but bearish divergence observed on smaller timeframes.

MACD: Histogram flips positive near 2882, but fading momentum above 2929.

🧩 Final Takeaway

Gold remains range-bound between 2882–2929. A close above 2956 or below 2832 would confirm a breakout. Prioritize trades at key levels with strict risk management.

⚡ Pro Tip: Use trailing stops after TP1 to capitalize on extended moves!