Gold Market Analysis - December 21, 2024 Weekly Analysis Based on Main Key Levels

In this blog post, we provide an insightful analysis of the gold market as of December 21, 2024. By examining key levels, swing points, and potential trade setups, traders can make informed decisions in a dynamic market environment.

📍 Weekly Current Market Price (DCMP)

Current Market Price: 2623

📉 Key Levels

• 🛑 Resistance: 2705, 2728, 2766

• ✅ Support: 2587, 2577, 2562
  

📉 Swing Levels

• Swing High: 2726

• Swing Low: 2583
  

💼 Intraday Buy Trade Setup

• Entry Price: ✨ 2606

• Stop Loss: ❌ 2596

• Take Profit 1: 🎯 2627

• Take Profit 2: 🎯 2642
  

📌 Reason for Entry:

Gold is near support at 2606, offering an opportunity for an upside move. The first target is 2627, followed by 2642. The Stop Loss is placed at 2596.

💼 Intraday Sell Trade Setup

• Entry Price: ✨ 2667

• Stop Loss: ❌ 2677

• Take Profit 1: 🎯 2642

• Take Profit 2: 🎯 2628
  

📌 Reason for Entry:

Gold is approaching Resistance 1 at 2667, triggering a potential sell. The first target is 2642, then 2628. The Stop Loss is at 2677.

💡 Summary

Gold is trading at 2623.

• Resistance Levels: 2705, 2728, 2766

• Support Levels: 2587, 2577, 2562
  

• Swing High: 2726

• Swing Low: 2583
  

• Intraday Buy: Enter at 2606, targets 2627 and 2642.

• Intraday Sell: Enter at 2667, targets 2642 and 2628.
  

By understanding these key levels and trade setups, traders can navigate the gold market more effectively, enhancing their trading strategies for better outcomes. Stay tuned for further updates and analyses to stay ahead in the market!