Short

Gold technical analysis.

This is a gold (CFDs on Gold - US$/OZ) price chart from TradingView on a 1-hour timeframe. The current price is $2,888.270, down 21.085 points (-0.72%).

Analysis from the Chart:

Support Zone: A purple horizontal zone is marked around $2,888, indicating a key support level.

Projected Price Movement: The blue line suggests a potential price action scenario where:

1. Price may bounce slightly from the support zone.

2. A breakdown below the support is expected.

3. A downward trend towards lower levels is projected.

Possible Implications:

If price breaks below the support, it could indicate further downside movement.

If price holds above the support, a reversal or consolidation might occur.

Would you like any specific insights or trading strategies based on this?

Rickypher

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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.

Rickypher

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