Levont - XAUUSD Analysis: Consolidation Near Key Resistance Zone
Updated
XAUUSD Analysis (Gold Spot/USD)
📊 Timeframes Analyzed:
- 4H Chart: Price is approaching a key resistance zone (Demand Range - DR) around 2,637, which has acted as a significant supply area in previous attempts. The overall structure shows consolidation within a broader range, with a potential breakout scenario if price breaches the resistance zone. A bullish continuation could target levels above 2,640.
- 2D Chart: The price is forming a symmetrical triangle pattern, indicating a phase of compression. This suggests that a significant breakout could occur soon. The current price is testing the upper boundary of the triangle, aligning with the resistance zone seen on lower timeframes.
- 1H Chart: Price action is consolidating near the resistance zone around 2,637. The repeated tests of this level suggest potential exhaustion of bearish momentum, but no clear breakout has occurred yet.
- 15m Chart : A closer look reveals price consolidating within a smaller range near the resistance zone. The bullish momentum appears to be slowing, but no decisive rejection or breakout has been confirmed.
🔑 Key Levels:
- Resistance Zone: 2,635 - 2,638
- Support Levels: 2,620 and 2,610
📈 Outlook:
The current price action suggests indecision as it approaches a critical resistance area. A breakout above 2,638 could confirm bullish momentum and lead to higher targets. However, if price fails to break this zone and rejects downward, it could revisit support levels at 2,620 or lower.
💡Note: Monitor for clear confirmation signals (e.g., strong candle closures or volume spikes) before entering any trades.
📊 Timeframes Analyzed:
- 4H Chart: Price is approaching a key resistance zone (Demand Range - DR) around 2,637, which has acted as a significant supply area in previous attempts. The overall structure shows consolidation within a broader range, with a potential breakout scenario if price breaches the resistance zone. A bullish continuation could target levels above 2,640.
- 2D Chart: The price is forming a symmetrical triangle pattern, indicating a phase of compression. This suggests that a significant breakout could occur soon. The current price is testing the upper boundary of the triangle, aligning with the resistance zone seen on lower timeframes.
- 1H Chart: Price action is consolidating near the resistance zone around 2,637. The repeated tests of this level suggest potential exhaustion of bearish momentum, but no clear breakout has occurred yet.
- 15m Chart : A closer look reveals price consolidating within a smaller range near the resistance zone. The bullish momentum appears to be slowing, but no decisive rejection or breakout has been confirmed.
🔑 Key Levels:
- Resistance Zone: 2,635 - 2,638
- Support Levels: 2,620 and 2,610
📈 Outlook:
The current price action suggests indecision as it approaches a critical resistance area. A breakout above 2,638 could confirm bullish momentum and lead to higher targets. However, if price fails to break this zone and rejects downward, it could revisit support levels at 2,620 or lower.
💡Note: Monitor for clear confirmation signals (e.g., strong candle closures or volume spikes) before entering any trades.
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