Gold/USD Bullish Reversal from Support Zone 🟢📈
Technical Analysis:
Support Zone: Price is consistently respecting the horizontal support range near 3,305 – 3,310, confirming it as a strong demand zone (marked by multiple orange circles and previous bounce reactions).
Bullish Structure: After breaking the descending trendline, the price has retested the trendline and horizontal support zone, forming a higher low — a classic bullish reversal signal.
Target Projection: The measured move projection targets a potential upside near 3,366.979, aligned with previous highs.
Bullish Candlestick Patterns: Green arrows highlight bullish price action at significant reversal points, confirming buyer strength at support.
Harmonic Pattern: The shaded harmonic pattern suggests completion near the previous lows, which aligns with the reversal zone.
Conclusion:
As long as the price holds above the support area and respects the trendline retest, bulls may push toward the projected target. A break below the zone would invalidate this bullish setup.
Technical Analysis:
Support Zone: Price is consistently respecting the horizontal support range near 3,305 – 3,310, confirming it as a strong demand zone (marked by multiple orange circles and previous bounce reactions).
Bullish Structure: After breaking the descending trendline, the price has retested the trendline and horizontal support zone, forming a higher low — a classic bullish reversal signal.
Target Projection: The measured move projection targets a potential upside near 3,366.979, aligned with previous highs.
Bullish Candlestick Patterns: Green arrows highlight bullish price action at significant reversal points, confirming buyer strength at support.
Harmonic Pattern: The shaded harmonic pattern suggests completion near the previous lows, which aligns with the reversal zone.
Conclusion:
As long as the price holds above the support area and respects the trendline retest, bulls may push toward the projected target. A break below the zone would invalidate this bullish setup.
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JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
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PARTNER CODE⤵️
uvd1etcgg1
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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PARTNER CODE⤵️
uvd1etcgg1
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.