XAUUSD Analysis (Gold/USD) โ September 8, 2024
๐จ Price Update: Gold finished off last week trading at $2,497, hovering around the POC! ๐
๐ Key Levels:
Resistance:
$2,515-$2,526 ๐ด Major resistance; sellers are stepping in.
$2,531 ๐บ High level if bulls can push higher.
Support:
$2,454 ๐ข Strong support โ buyers holding this zone.
$2,430 ๐ก Minor support, if it breaks, we could see a move down to $2,410-$2,364 ๐โ ๏ธ
๐ Volume Profile:
Heavy volume around $2,497 ๐ indicates consolidation before a breakout.
Light volume below $2,480 suggests a quick move to $2,454 โก๏ธ, and if broken, further downside to $2,430-$2,410 ๐.
๐ง What's Next?
If buyers hold $2,454, we could see a push back to $2,515-$2,526 ๐. A break above opens targets to $2,531 ๐บ.
If $2,454 fails, expect a drop to $2,430 and potentially $2,410 ๐.
๐ Keep an eye on: Price action at the key support & resistance zones!
Follow my Channel for updates!
@goldstar_signals
๐ Key Levels:
Resistance:
$2,515-$2,526 ๐ด Major resistance; sellers are stepping in.
$2,531 ๐บ High level if bulls can push higher.
Support:
$2,454 ๐ข Strong support โ buyers holding this zone.
$2,430 ๐ก Minor support, if it breaks, we could see a move down to $2,410-$2,364 ๐โ ๏ธ
๐ Volume Profile:
Heavy volume around $2,497 ๐ indicates consolidation before a breakout.
Light volume below $2,480 suggests a quick move to $2,454 โก๏ธ, and if broken, further downside to $2,430-$2,410 ๐.
๐ง What's Next?
If buyers hold $2,454, we could see a push back to $2,515-$2,526 ๐. A break above opens targets to $2,531 ๐บ.
If $2,454 fails, expect a drop to $2,430 and potentially $2,410 ๐.
๐ Keep an eye on: Price action at the key support & resistance zones!
Follow my Channel for updates!
@goldstar_signals
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.