Observations suggest that Gold is trending upward within a parallel channel, with trend lines serving as key resistance and support levels, on the 4-hour time frame.
Recently, Gold has experienced a reversal from the resistance line and is expected to test the support line shortly.
Upon finding support, we anticipate Gold will propel higher and reach new highs around 28**. In the near term, a sell opportunity may arise up to 2750.
Key buying areas to watch are:
1. 2745-2750
2. 2730-2733
These levels may provide a strong foundation for a potential upward move.
Support me if you Like my idea.
Recently, Gold has experienced a reversal from the resistance line and is expected to test the support line shortly.
Upon finding support, we anticipate Gold will propel higher and reach new highs around 28**. In the near term, a sell opportunity may arise up to 2750.
Key buying areas to watch are:
1. 2745-2750
2. 2730-2733
These levels may provide a strong foundation for a potential upward move.
Support me if you Like my idea.
Trade closed: target reached
Both targets were hit! Gold dropped to 2747, reaching our sell target of 2750. It then bounced back from the 2745-2750 buying area, gaining momentum to move higher.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.