Gold (XAUUSD) Analysis Bearish Setup
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In My Analysis of Gold Spot (XAU/USD) on a 4-hour timeframe. Key elements include:
1. Resistance Zone: At the top, a price level where selling pressure is strong (around 2780-2776).
2. Support Zone: Where buying pressure is strong (around 2743-2738).
3. Current Price: at 2764.862, with the "SELL" Price at 2763.400 and the "BUY" price at 2764.050.
4. Target Price (TP 2740): Price level in the support zone, Apotential take-profit target for a short position.
5 Indicators: 2664.368, indicating a trend-following signal for potential market direction.
6. Bearish move from the resistance zone toward the support zone.
7. Volume Candles: Price movements Candlesticks reflecting market activity over time.
Gold suggests a potential bearish trade setup targeting the support zone
In My Analysis of Gold Spot (XAU/USD) on a 4-hour timeframe. Key elements include:
1. Resistance Zone: At the top, a price level where selling pressure is strong (around 2780-2776).
2. Support Zone: Where buying pressure is strong (around 2743-2738).
3. Current Price: at 2764.862, with the "SELL" Price at 2763.400 and the "BUY" price at 2764.050.
4. Target Price (TP 2740): Price level in the support zone, Apotential take-profit target for a short position.
5 Indicators: 2664.368, indicating a trend-following signal for potential market direction.
6. Bearish move from the resistance zone toward the support zone.
7. Volume Candles: Price movements Candlesticks reflecting market activity over time.
Gold suggests a potential bearish trade setup targeting the support zone
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