Gold current price at 9’o Clock on 20/02/2024 = $2018

Market Overview For Gold Trading:

Gold XAUUSD has maintained a $10 range upon upward moment after huge downward moment due to positive CPI News for Dollar and Negative for Gold.
As, we navigated a period of consolidation following recent substantial decrease in price. Despite briefly dipping below $1987, the metal only reached $1984. Amidst this consolidation, I find comfort in aligning with the prevailing two-week bear trend.

• Minor Support: $2003 / $2005
• Additional Support: $1995 / $1997
• Strong Resistance (Potential Sell Opportunity): $2028 (with stop above $2032)

Market Sentiment: For Gold Trading:

Market hold itself with no significant move on the last day of Monday 19 Fab 2024 mainly due to Closer of financial institutes. Gold is expected to go in downward direction but we are currently waiting for a certain conformation to enter into market.

Future Projections For Gold Trading:

While a recovery beyond this point seems unlikely, a noteworthy scenario would be an unexpected surge to encounter strong resistance at $2023/$2028, presenting an excellent sell opportunity, with the stop strategically placed above $2032.

Whether you’re a seasoned trader navigating the intricate world of Gold trading or a newcomer testing the waters, these detailed insights aim to provide a nuanced perspective on the current market trends. Wishing you fruitful and informed trading sessions on this day, Happy Trading!

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