Gold 4h Upward channel
XAU/USD (Gold) 4H Chart Analysis – February 17, 2025
1. Trend Analysis
The chart shows an upward channel, indicating a strong bullish trend.
Gold recently made an all-time high, suggesting strong momentum in previous sessions.
However, a breakdown of the steep short-term trendline suggests a possible correction in the near term.
2. Key Levels
Support Level: Around $2,600 - $2,650 (previous resistance turned support).
Upward Trendline: A retest of this dynamic support around $2,750 - $2,800 is possible if price continues correcting.
3. RSI Indicator
The Relative Strength Index (RSI) is currently around 50.34, meaning the market is neutral—neither overbought nor oversold.
The RSI has been making lower highs, which could indicate weakening bullish momentum.
4. Potential Scenarios
📉 Bearish Scenario:
If the price continues to break below the short-term trendline, a decline towards the $2,800-$2,750 zone (major trendline support) is likely.
If bearish momentum accelerates, a further decline to $2,650 (horizontal support zone) could occur.
📈 Bullish Scenario:
If gold holds above $2,850 and rebounds, we could see a continuation of the uptrend, with a retest of the recent all-time high and a potential push beyond $2,920-$2,950.
Conclusion
Short-term correction likely, with a potential dip toward $2,800-$2,750.
Key support zones to watch: $2,800, $2,750, and $2,650.
Trend remains bullish unless the price breaks below the main upward channel support.
1. Trend Analysis
The chart shows an upward channel, indicating a strong bullish trend.
Gold recently made an all-time high, suggesting strong momentum in previous sessions.
However, a breakdown of the steep short-term trendline suggests a possible correction in the near term.
2. Key Levels
Support Level: Around $2,600 - $2,650 (previous resistance turned support).
Upward Trendline: A retest of this dynamic support around $2,750 - $2,800 is possible if price continues correcting.
3. RSI Indicator
The Relative Strength Index (RSI) is currently around 50.34, meaning the market is neutral—neither overbought nor oversold.
The RSI has been making lower highs, which could indicate weakening bullish momentum.
4. Potential Scenarios
📉 Bearish Scenario:
If the price continues to break below the short-term trendline, a decline towards the $2,800-$2,750 zone (major trendline support) is likely.
If bearish momentum accelerates, a further decline to $2,650 (horizontal support zone) could occur.
📈 Bullish Scenario:
If gold holds above $2,850 and rebounds, we could see a continuation of the uptrend, with a retest of the recent all-time high and a potential push beyond $2,920-$2,950.
Conclusion
Short-term correction likely, with a potential dip toward $2,800-$2,750.
Key support zones to watch: $2,800, $2,750, and $2,650.
Trend remains bullish unless the price breaks below the main upward channel support.
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.