On the Daily timeframe, the seller’s level at 3366.900, formed by the April 22nd bar, was broken by strong buying pressure and is currently being retested from above.
On the Hourly chart, I’m observing a bullish wide-spread bar with the highest volume, which also broke through the 3366.900 level.
📈This bar has its own test at 3349.745, which supports the bullish bias for now.
As long as this level holds, I expect the long scenario to remain valid.
Overhead, there is resistance from sellers at 3404.761.
If price breaks above it, the next upside targets are:
🎯3438.708
🎯3500.120
#TechnicalAnalysis #DayTrading #VSA #XAUUSD #GOLD # #FuturesTrading #VolumeSpreadAnalysis
On the Hourly chart, I’m observing a bullish wide-spread bar with the highest volume, which also broke through the 3366.900 level.
📈This bar has its own test at 3349.745, which supports the bullish bias for now.
As long as this level holds, I expect the long scenario to remain valid.
Overhead, there is resistance from sellers at 3404.761.
If price breaks above it, the next upside targets are:
🎯3438.708
🎯3500.120
#TechnicalAnalysis #DayTrading #VSA #XAUUSD #GOLD # #FuturesTrading #VolumeSpreadAnalysis
Trade active
Looks like the seller held strong at the 3404 level and pushed the price down. The bullish trend level at 3349 has been broken too, which puts the historical all-time high scenario on hold for now.
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.
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.