Here's a descriptive analysis of the chart you provided, which is a technical analysis chart for Gold (CFDs on Gold, USD/OZ) as of April 9, 2025:
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Chart Description: Gold (XAU/USD) Price Action Analysis
Time Frame: Intraday (Likely 1-hour or 2-hour candles)
Volume: Displayed at the bottom in green/red bars, showing buying and selling pressure.
Key Highlights:
1. Downtrend Channel:
The price has been moving within a downward channel (marked by red and blue trendlines).
Several lower highs and lower lows were observed until a breakout occurred.
2. Support and Resistance Levels:
Support Level: Around 2,974.936 – This acted as a solid base before the bullish reversal.
Resistance Zone: Around 3,132.939 - 3,137.725 – This area is expected to be a stron…
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Chart Description: Gold (XAU/USD) Price Action Analysis
Time Frame: Intraday (Likely 1-hour or 2-hour candles)
Volume: Displayed at the bottom in green/red bars, showing buying and selling pressure.
Key Highlights:
1. Downtrend Channel:
The price has been moving within a downward channel (marked by red and blue trendlines).
Several lower highs and lower lows were observed until a breakout occurred.
2. Support and Resistance Levels:
Support Level: Around 2,974.936 – This acted as a solid base before the bullish reversal.
Resistance Zone: Around 3,132.939 - 3,137.725 – This area is expected to be a stron…
Trade active
again gold buyTrade closed: target reached
Target successful done
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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.