This chart is a technical analysis of the Gold Spot price (XAU/USD) on the 4-hour timeframe. Here's the breakdown:
🔹 Chart Elements:
Key Levels (Horizontal Lines):
$3,330.47 – Resistance level.
$3,295.04 – Current level with possible rejection.
$3,247.47 – Minor support level.
("major key level"): Critical demand zone between $3,200–$3,210.
Orange Circles: Mark historical support and resistance reactions (swing highs and lows).
🔸 Price Prediction Path:
Price is currently at $3,279.99 and is expected to:
Possibly retest $3,295 but fall again.
Break down toward $3,247, maybe even into the major key level zone.
Find strong support and reverse upwards.
Move step-by-step higher, breaking through:
$3,295
$3,330
Eventually rally toward $3,400+.
🔻 Summary:
The chart predicts a short-term drop followed by a bullish reversal.
Key area to watch: $3,200–$3,210 support zone.
If price holds here, strong bullish momentum could follow.
Important resistance: $3,330.47, needs to be broken for continuation.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
🔹 Chart Elements:
Key Levels (Horizontal Lines):
$3,330.47 – Resistance level.
$3,295.04 – Current level with possible rejection.
$3,247.47 – Minor support level.
("major key level"): Critical demand zone between $3,200–$3,210.
Orange Circles: Mark historical support and resistance reactions (swing highs and lows).
🔸 Price Prediction Path:
Price is currently at $3,279.99 and is expected to:
Possibly retest $3,295 but fall again.
Break down toward $3,247, maybe even into the major key level zone.
Find strong support and reverse upwards.
Move step-by-step higher, breaking through:
$3,295
$3,330
Eventually rally toward $3,400+.
🔻 Summary:
The chart predicts a short-term drop followed by a bullish reversal.
Key area to watch: $3,200–$3,210 support zone.
If price holds here, strong bullish momentum could follow.
Important resistance: $3,330.47, needs to be broken for continuation.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
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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.
Related publications
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.