Based on the provided daily timeframe chart for Gold (XAU/USD) from TradingView, published on June 15, 2025, here’s a technical analysis with the closing price at $3,434.55:
Price Action: The price is approaching a significant resistance zone around $3,434.55, near the upper trendline of an ascending channel. A breakout above could target $3,482.982, while a rejection may lead to a pullback toward $3,228.295.
Support and Resistance:
Support: Key support levels are at $3,228.295 and $3,137.318, aligning with prior lows and the lower channel trendline.
Resistance: Immediate resistance is at $3,434.55, with further levels at $3,482.982 and $3,496.962.
Trend Indicators: The upward-sloping moving averages (e.g., 700.007K, 128.697K) confirm a strong long-term bullish trend. The price is testing the upper boundary, suggesting potential overextension.
Trading Signals:
Long: Consider long positions if the price breaks and sustains above $3,434.55 with high volume.
Short: Short opportunities may arise if the price forms a bearish reversal pattern (e.g., double top) at $3,434.55.
RSI: The RSI around 60-70 (based on the chart) indicates nearing overbought conditions. A drop below 50 could signal a correction.
This analysis is based on the chart's visual data.
https://www.tradingview.com/chart/68iTGuqV/
Price Action: The price is approaching a significant resistance zone around $3,434.55, near the upper trendline of an ascending channel. A breakout above could target $3,482.982, while a rejection may lead to a pullback toward $3,228.295.
Support and Resistance:
Support: Key support levels are at $3,228.295 and $3,137.318, aligning with prior lows and the lower channel trendline.
Resistance: Immediate resistance is at $3,434.55, with further levels at $3,482.982 and $3,496.962.
Trend Indicators: The upward-sloping moving averages (e.g., 700.007K, 128.697K) confirm a strong long-term bullish trend. The price is testing the upper boundary, suggesting potential overextension.
Trading Signals:
Long: Consider long positions if the price breaks and sustains above $3,434.55 with high volume.
Short: Short opportunities may arise if the price forms a bearish reversal pattern (e.g., double top) at $3,434.55.
RSI: The RSI around 60-70 (based on the chart) indicates nearing overbought conditions. A drop below 50 could signal a correction.
This analysis is based on the chart's visual data.
https://www.tradingview.com/chart/68iTGuqV/
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.
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.