Gold Analysis – Potential Pullback Within Ascending Channel
Key Observations:
Current Price: $2,900.48
Recent High: $2,907.29
200 EMA (Red Line): $2,758.59 (Strong support level)
Projection: Price may correct lower towards the channel’s lower boundary (~$2,875)
Analysis:
📊 Short-Term Bearish: A pullback could happen before further upside if the trend holds. If price breaks below the channel, a deeper correction towards the 200 EMA might follow.
🔍 Trading Idea: Traders might look for buying opportunities at the lower trendline (~$2,875-$2,880) if price shows support.
Current Price: $2,900.48
Recent High: $2,907.29
200 EMA (Red Line): $2,758.59 (Strong support level)
Projection: Price may correct lower towards the channel’s lower boundary (~$2,875)
Analysis:
📊 Short-Term Bearish: A pullback could happen before further upside if the trend holds. If price breaks below the channel, a deeper correction towards the 200 EMA might follow.
🔍 Trading Idea: Traders might look for buying opportunities at the lower trendline (~$2,875-$2,880) if price shows support.
Trade active
Great to hear that gold (XAU/USD) is moving towards the target! 🚀✨ If the price respects the ascending channel and finds support, we could see a continuation of the bullish trend. Keep an eye on key levels for confirmation.
Trade closed: target reached
🚨 Target Hit! 🚨
Gold (XAU/USD) has successfully moved in line with the analysis and hit the target! 💥📈 As predicted, the price respected the channel and delivered. If you followed the setup, you should be enjoying those gains! 🎯✨
🔔 Key Takeaway: Always stick to your levels and trust the process—whether you’re holding or locking in profits, stay alert for the next move. 📊🔥
Let’s keep the momentum going! 💪 Stay tuned for more updates!
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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.