Gold:Short term analysis for 13/11/2024
Disclaimer:
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 4-hour
Market Analysis:
The 4-hour XAUUSD chart exhibits a short-term bullish trend, with the RSI indicating a slight oversold condition. Price movement is confined within the trend channel, suggesting potential upside to the upper trend channel to fill the gap.
The chart indicates:
Key Levels:
Trading Bias:
Moderate bullish, the price might touch uppper channel and get rejected. The volume indicate that buyers are stepping in.
https://www.tradingview.com/x/ys2yOMoa/
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 4-hour
Market Analysis:
The 4-hour XAUUSD chart exhibits a short-term bullish trend, with the RSI indicating a slight oversold condition. Price movement is confined within the trend channel, suggesting potential upside to the upper trend channel to fill the gap.
The chart indicates:
- Bullish RSI divergence.
- Price movement within the trend channel.
- Confluence of resistance and daily point of control at 2656-2628.
- Supply zone (OBV) near resistance.
- Possibility of zig-zag movement within the channel.
Key Levels:
- Resistance (Point of Control): 2656-2628
- support(weekly point of control): 2580.00
- OBV (Lower Target): 2580-25431
Trading Bias:
Moderate bullish, the price might touch uppper channel and get rejected. The volume indicate that buyers are stepping in.
https://www.tradingview.com/x/ys2yOMoa/
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.