The image is a trading chart from TradingView showing the price action of Gold Spot against the U.S. Dollar (XAU/USD) on the 1-hour timeframe.
Key Observations:
1. Current Price: The price is at 2,934.650, up by 18.950 (+0.65%).
2. Support/Resistance Zone: A purple rectangular zone is marked around the 2,920 - 2,925 price range, indicating a key support area.
3. Price Action & Prediction:
The chart suggests a breakout above the resistance level.
A blue projection line shows a possible retest of the support zone before an upward continuation.
This suggests a bullish outlook, expecting higher highs after consolidation.
Technical
Key Observations:
1. Current Price: The price is at 2,934.650, up by 18.950 (+0.65%).
2. Support/Resistance Zone: A purple rectangular zone is marked around the 2,920 - 2,925 price range, indicating a key support area.
3. Price Action & Prediction:
The chart suggests a breakout above the resistance level.
A blue projection line shows a possible retest of the support zone before an upward continuation.
This suggests a bullish outlook, expecting higher highs after consolidation.
Technical
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.