This 1-hour chart of Gold Spot (XAU/USD) shows price action trending within a well-defined ascending channel. A bullish reversal pattern (double bottom) is highlighted, indicating strong support and potential continuation toward the upper channel boundary. The projected target is marked at 3060, supported by the channel's trajectory and recent bullish momentum. Price currently trades at 3045, with short-term consolidation expected before a possible breakout to the target zone. Traders may look for buy opportunities on pullbacks near the lower channel support.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
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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.
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.