Gold Futures Analysis Today with tradeCompass
Current Price at the time of this analysis: $3,268.2 Market Bias: Bullish
At the time of this analysis, gold futures are trading at $3,268.2, slightly above today's VWAP of $3,264.5, reinforcing the bullish scenario according to tradeCompass methodology. Moreover, gold futures remain bullish above $3,264, which is Friday's Point of Control (POC).
Gold traders should monitor these levels for bullish continuation:
$3,283.5 – Second profit target, just below today's 2nd Upper VWAP Standard Deviation.
$3,309.2 – Fourth profit target, just below the April 30th VWAP.
$3,328.8 – Sixth target, adequately below the April 30th Value Area High (VAH).
Bearish Threshold and Price Levels to Watch for Gold Futures Today
A 30-minute candle closes below $3,255 (Friday's VWAP).
If activated, bearish profit targets include:
$3,238.5 – Second bearish target, slightly above May 1st VWAP.
Extended bearish runner target: Traders with partial positions left after achieving earlier targets can consider an extended target at $3,178, the April 10th VAH.
tradeCompass provides strategic orientation for identifying key support and resistance levels in gold futures, assisting traders in managing entries, exits, and profit-taking zones effectively. However, it should not be considered financial advice. Traders are encouraged to integrate these insights into their own trading strategies, adjusting tactics and managing risks accordingly.
Pay close attention to gold futures' price reactions at these key tradeCompass levels, as they can offer critical insights into the market's next move, further refining your analysis and trade decisions.
This gold futures technical analysis is not financial advice, please do your own research. Visit ForexLive.com (evolving to investingLive.com later this year) for additional views.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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