Gold (XAU/USD) 4-Hour Chart Analysis – May 6, 2025
This 4-hour candlestick chart of Gold (CFDs on Gold, USD/OZ) highlights key technical levels and recent price action:
Support Level: The support zone around $3,200 provided a strong base where price consolidated and reversed upwards. This level had previously acted as a demand zone, halting the bearish trend.
Resistance Level: The chart identifies a significant resistance zone around $3,450. This level previously rejected upward moves and is considered a major obstacle for bulls.
Current Price Action: As of this chart, Gold is trading at $3,358.602, showing a bullish gain of +0.67%. The price recently broke through a minor consolidation zone near $3,250 and surged strongly toward the target zone near resistance.
Target Projection: A bullish target near the resistance level has been marked. The chart suggests that buyers are aiming for this upper zone, and the upward momentum supports this outlook.
Trend Observation: The recent price surge shows a strong bullish trend with consecutive bullish candles, indicating robust buying pressure.
This setup suggests that traders may look for a potential pullback or consolidation before a continuation to the resistance target, or watch for rejection signals if price fails to break the resistance.
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This 4-hour candlestick chart of Gold (CFDs on Gold, USD/OZ) highlights key technical levels and recent price action:
Support Level: The support zone around $3,200 provided a strong base where price consolidated and reversed upwards. This level had previously acted as a demand zone, halting the bearish trend.
Resistance Level: The chart identifies a significant resistance zone around $3,450. This level previously rejected upward moves and is considered a major obstacle for bulls.
Current Price Action: As of this chart, Gold is trading at $3,358.602, showing a bullish gain of +0.67%. The price recently broke through a minor consolidation zone near $3,250 and surged strongly toward the target zone near resistance.
Target Projection: A bullish target near the resistance level has been marked. The chart suggests that buyers are aiming for this upper zone, and the upward momentum supports this outlook.
Trend Observation: The recent price surge shows a strong bullish trend with consecutive bullish candles, indicating robust buying pressure.
This setup suggests that traders may look for a potential pullback or consolidation before a continuation to the resistance target, or watch for rejection signals if price fails to break the resistance.
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Telegram channel Link here
t.me/+QnnqTEDwgIcxYTNk
Vip Paid Signals Free Join Today
t.me/+QnnqTEDwgIcxYTNk
Recommended best broker Exness Partner link
t.me/+QnnqTEDwgIcxYTNk
Vip Paid Signals Free Join Today
t.me/+QnnqTEDwgIcxYTNk
Recommended best broker Exness Partner link
Related publications
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.