XAUUAD UPDATE 22-05-2025The chart you provided is a technical analysis for Gold (CFDs on Gold - US$/OZ) on a 1-hour timeframe. Here’s a breakdown of what it shows:
1. Price Action:
The current price is around $3,331.56.
The price has recently entered a resistance zone (highlighted in yellow-red near the top).
2. Resistance Zones:
Upper resistance: Around $3,389 (top yellow box).
Immediate resistance: Around $3,330–$3,340 (where price is currently reacting).
3. Support Zone:
Lower support: Around $3,142–$3,160 (bottom yellow box).
4. Bearish Outlook (as indicated by the blue arrow):
The chart suggests a potential rejection from the current resistance zone.
A projected drop toward the lower support area is illustrated.
There’s a red-shaded box likely representing a stop-loss zone, implying a short trade setup with entry near the current level.
5. Volume: There’s a moderate rise in volume recently, which could support the momentum shift.
Conclusion: The chart analysis suggests a short setup expecting gold to fall from the current resistance zone to the support zone around $3,140, assuming price fails to break above resistance.
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