nalysis Overview:
Price Action: Gold (XAUUSD) has made a higher high on price while RSI is printing lower highs — a clear bearish divergence, hinting at exhaustion in buying pressure.
RSI Reading: RSI dropped from 70+ to sub-50 levels despite price still pushing up, confirming momentum loss.
Trendline Break: The ascending wedge shows a breakdown starting, further validating the bearish scenario.
Demand Zone: Next key target area lies around ₹3,280–₹3,300, marked by the previous consolidation zone (highlighted in yellow).
Bias: Short-term bearish. Expecting a clean fall toward the demand zone or lower.
🔔 Trade Idea:
Entry: After clean candle close below trendline
Target: ₹3,300 / ₹3,280 zone
SL: Above recent high (₹3,390–₹3,395)
Risk–Reward: ~1:2 or better
Price Action: Gold (XAUUSD) has made a higher high on price while RSI is printing lower highs — a clear bearish divergence, hinting at exhaustion in buying pressure.
RSI Reading: RSI dropped from 70+ to sub-50 levels despite price still pushing up, confirming momentum loss.
Trendline Break: The ascending wedge shows a breakdown starting, further validating the bearish scenario.
Demand Zone: Next key target area lies around ₹3,280–₹3,300, marked by the previous consolidation zone (highlighted in yellow).
Bias: Short-term bearish. Expecting a clean fall toward the demand zone or lower.
🔔 Trade Idea:
Entry: After clean candle close below trendline
Target: ₹3,300 / ₹3,280 zone
SL: Above recent high (₹3,390–₹3,395)
Risk–Reward: ~1:2 or better
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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.