Gold (XAUUSD) 4H Chart Analysis 📉✨
1️⃣ Price Action
Gold is in a downtrend, recently breaking below a key support zone (purple).
It is trading below the 200 EMA (2,841.953), confirming bearish sentiment.
A minor pullback to the broken support zone is expected before further downside.
2️⃣ Support & Resistance
Resistance Zone: Around 2,875 - 2,900 (previous supply area).
Immediate Support: 2,800 - 2,810 (highlighted demand zone).
3️⃣ RSI (Relative Strength Index) 📊
Oversold at 19.98 ⚠️ → This suggests a potential short-term bounce, but trend remains weak.
32.46 level is a key resistance on RSI; breaking above could signal a recovery.
4️⃣ Bearish Bias 📉
If price retests the broken support and rejects, we could see a drop towards 2,800.
RSI suggests possible relief before further downside.
Trading Outlook 🔥
✅ Bearish Scenario: Sell on a rejection of the broken support, targeting 2,800.
🚨 Bullish Case: If Gold reclaims 2,850+, it might retest the 200 EMA and higher levels.
Would you like an updated analysis if the price action changes? 🚀📊
1️⃣ Price Action
Gold is in a downtrend, recently breaking below a key support zone (purple).
It is trading below the 200 EMA (2,841.953), confirming bearish sentiment.
A minor pullback to the broken support zone is expected before further downside.
2️⃣ Support & Resistance
Resistance Zone: Around 2,875 - 2,900 (previous supply area).
Immediate Support: 2,800 - 2,810 (highlighted demand zone).
3️⃣ RSI (Relative Strength Index) 📊
Oversold at 19.98 ⚠️ → This suggests a potential short-term bounce, but trend remains weak.
32.46 level is a key resistance on RSI; breaking above could signal a recovery.
4️⃣ Bearish Bias 📉
If price retests the broken support and rejects, we could see a drop towards 2,800.
RSI suggests possible relief before further downside.
Trading Outlook 🔥
✅ Bearish Scenario: Sell on a rejection of the broken support, targeting 2,800.
🚨 Bullish Case: If Gold reclaims 2,850+, it might retest the 200 EMA and higher levels.
Would you like an updated analysis if the price action changes? 🚀📊
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
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.