🔹Technical Analysis of Gold (XAU/USD) - 1H Chart
▪️ Key Levels:
- Resistance Zone: 2,926.704 USD (Marked in red)
- 1st Target (Support Level): 2,899.780 USD
- 2nd Target (Support Level): 2,880.499 USD
▪️Analysis:
1. Resistance Zone & Potential Rejection:
- The red-shaded area highlights a strong resistance zone around 2,926.704 USD.
- Historically, price has struggled to break above this level, indicating a supply zone where sellers are active.
- The price attempted to break this area but faced rejection, signaling bearish pressure.
2. Projected Price Action:
- The chart suggests that if price retests the resistance zone and fails to break above it, a further downside move is expected.
- A lower high formation within this zone would confirm a continuation of the downtrend.
3. Bearish Targets:
- First target: 2,899.780 USD (Key support level)
- Second target: 2,880.499 USD (Stronger support, potential bounce zone)
4. Volume Analysis:
- The volume bars at the bottom indicate selling momentum is increasing, supporting the bearish outlook.
🔹Conclusion:
- Bearish Bias: If the price fails to break the 2,926.704 resistance, a drop towards 2,899.780 and potentially 2,880.499 is likely.
- Invalidation: A clear breakout above the resistance zone would invalidate the bearish scenario, potentially leading to a bullish push towards higher levels.
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▪️ Key Levels:
- Resistance Zone: 2,926.704 USD (Marked in red)
- 1st Target (Support Level): 2,899.780 USD
- 2nd Target (Support Level): 2,880.499 USD
▪️Analysis:
1. Resistance Zone & Potential Rejection:
- The red-shaded area highlights a strong resistance zone around 2,926.704 USD.
- Historically, price has struggled to break above this level, indicating a supply zone where sellers are active.
- The price attempted to break this area but faced rejection, signaling bearish pressure.
2. Projected Price Action:
- The chart suggests that if price retests the resistance zone and fails to break above it, a further downside move is expected.
- A lower high formation within this zone would confirm a continuation of the downtrend.
3. Bearish Targets:
- First target: 2,899.780 USD (Key support level)
- Second target: 2,880.499 USD (Stronger support, potential bounce zone)
4. Volume Analysis:
- The volume bars at the bottom indicate selling momentum is increasing, supporting the bearish outlook.
🔹Conclusion:
- Bearish Bias: If the price fails to break the 2,926.704 resistance, a drop towards 2,899.780 and potentially 2,880.499 is likely.
- Invalidation: A clear breakout above the resistance zone would invalidate the bearish scenario, potentially leading to a bullish push towards higher levels.
😊Don't Forget To Hit The Like Button & Share Your Thoughts In Comments.
Note
gold price still in range , still waiting for price come into our selling zone.Order cancelled
PRICE NOT COME TO OUR AREA AND HIT OUR TARGETS.Note
the next day price come to our area , selling zone and give us to sell targets ahead, and now enjoy 400 pips+ profits.
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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.