🏆Gold Daily Analysis based on Main Key Levels - [2025-04-22]

Daily Current Market Price (DCMP): 3481

Key Levels Summary

Below DCMP (Support Levels)

• Immediate Support: 3456 (Weekly Pivot)

• Strong Support Zone: 3394-3355 (Daily Pivots)

• Major Swing Low: 2956 (Daily Timeframe)

Above DCMP (Resistance Levels)

• Immediate Resistance: 3496 (Daily R3)

• Strong Resistance Zone: 3457-3433

• Major Swing High: 2956 (Daily Timeframe)

Technical Indicators Overview

• RSI: Showing neutral momentum (no clear divergence)

• MACD: Flatlined near zero, suggesting consolidation

• Price Action: Trading between weekly and daily pivot levels

Trade Setups 💼

1️⃣ Intraday Buy Trade Setup

• Entry: 3456 🎯 (Weekly Pivot Support)

• Stop Loss: 3394 🚫 (Below Daily Pivot)

• Take Profit 1: 3496 ✅ (Daily R3)

• Take Profit 2: 3533 ✅ (Next Fibonacci Extension)

2️⃣ Intraday Sell Trade Setup

No valid sell setup at current levels as price is below DCMP

Market Outlook 🔍

Gold is currently trading at 3481, showing consolidation between key levels. The 3456 weekly pivot acts as immediate support, while 3496 remains strong overhead resistance.

• Bullish Scenario: Sustained move above 3496 could target 3533

• Bearish Scenario: Break below 3394 may test 3355 support