Gold:Short term analysis for 07/11/2024
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame:1-hour
The 1-hour XAUUSD chart exhibits a short-term bullish trend, with the RSI indicating a slight oversold condition.
Key Levels:
Trading Bias:
A breach of 2643.00 may trigger a corrective decline to the Point of Control (2617) and potentially reach the Lower Target (Order Block) at 2580-2590.
https://www.tradingview.com/x/sOpMj4mB/
Time Frame:1-hour
The 1-hour XAUUSD chart exhibits a short-term bullish trend, with the RSI indicating a slight oversold condition.
Key Levels:
- Poc(Point of Control): 2617
- Order Block (Lower Target): 2580-2590
- Resistance: 2683.00-2700.00
- Immediate Support: 2643.00
Trading Bias:
A breach of 2643.00 may trigger a corrective decline to the Point of Control (2617) and potentially reach the Lower Target (Order Block) at 2580-2590.
https://www.tradingview.com/x/sOpMj4mB/
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