This chart is a technical analysis of gold (CFDs on Gold - US$/OZ) on a 2-hour timeframe from TradingView.
Key Observations:
1. Current Price: 3,118.715 (up by +1.11%).
2. Uptrend Channel: A blue ascending channel indicates a strong upward move.
3. Breakout & Expected Correction:
The price has reached the top of the trend and appears to be breaking out.
A gray arrow suggests a possible pullback.
4. Support Zones:
Two red rectangular zones indicate previous resistance, which may act as future support levels around 3,050.000.
5. Fibonacci Level: A retracement ratio (0.977) is noted, possibly indicating a correction target.
Potential Scenario:
If the price follows the indicated path, a retracement toward the 3,050 level could happen before resuming an uptrend.
Would you like further insights on this?
Key Observations:
1. Current Price: 3,118.715 (up by +1.11%).
2. Uptrend Channel: A blue ascending channel indicates a strong upward move.
3. Breakout & Expected Correction:
The price has reached the top of the trend and appears to be breaking out.
A gray arrow suggests a possible pullback.
4. Support Zones:
Two red rectangular zones indicate previous resistance, which may act as future support levels around 3,050.000.
5. Fibonacci Level: A retracement ratio (0.977) is noted, possibly indicating a correction target.
Potential Scenario:
If the price follows the indicated path, a retracement toward the 3,050 level could happen before resuming an uptrend.
Would you like further insights on this?
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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.
XAUUSD GOLD + BTCUSD Daily 6-7 Free Signals📊🚀
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
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t.me/Gold_Derive_Killer01
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
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.