Technical Analysis of Gold (XAU/USD, 1H Chart)
Gold recently broke below an upward trendline, signaling a shift in momentum. The price is now retesting the resistance area (2,909–2,917), where a rejection could confirm further downside movement.
- Trendline Breakout: Indicates weakening bullish momentum.
- Resistance Area: If price fails to break above, selling pressure may resume.
- Target Area: Potential downside target at 2,881.
A strong rejection at resistance could lead to a continuation toward the target, while a breakout above 2,917 may invalidate the bearish outlook.
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Gold recently broke below an upward trendline, signaling a shift in momentum. The price is now retesting the resistance area (2,909–2,917), where a rejection could confirm further downside movement.
- Trendline Breakout: Indicates weakening bullish momentum.
- Resistance Area: If price fails to break above, selling pressure may resume.
- Target Area: Potential downside target at 2,881.
A strong rejection at resistance could lead to a continuation toward the target, while a breakout above 2,917 may invalidate the bearish outlook.
If you enjoy, press the like button.
Trade active
Trade closed: target reached
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💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
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.