📊 Gold 24th December 2024 Daily Analysis Based on Main Key Levels

In today’s analysis, we will delve into the current state of the gold market, focusing on critical price levels and potential trading opportunities.

📍 Daily Current Market Price (DCMP)

The current market price for Gold is 2621. This serves as a critical reference point for assessing trading opportunities.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 2654

Resistance 2: 2673

Resistance 3: 2704

✅ Support (Below DCMP)

Support 1: 2593

Support 2: 2602

Support 3: 2543

📉 Swing Levels

Swing High: 2726

Swing Low: 2583

Summary of Analysis

The Gold index is currently positioned at 2621. Key resistance levels above the DCMP are 2654, 2673, and 2704. The support levels below the DCMP are 2593, 2602, and 2543. The swing high is at 2726, and the swing low is at 2583.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 2593

Stop Loss: ❌ 2583

Take Profit 1: 🎯 2602

Take Profit 2: 🎯 2618

📌 Reason for Entry

The price is approaching a key support level at 2593, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 2654

Stop Loss: ❌ 2664

Take Profit 1: 🎯 2643

Take Profit 2: 🎯 2633

📌 Reason for Entry

Resistance at 2654 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!

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