From the updated chart, here's a refined **analysis and target projection**:
---
### **Analysis**:
1. **Current Price**:
- Gold is trading around **2645.59**, showing a bullish attempt to break above recent resistance levels.
2. **Demand Zone**:
- A possible higher low (HL) formation is near the **2620–2630 zone**, indicating strong buyer interest. If this level holds, the price may continue its upward movement.
3. **Resistance Areas**:
- The next immediate resistance zone lies between **2650–2660**, where a minor supply zone exists.
- If this zone breaks, the price may target the next significant supply level around **2680–2700**, as suggested by the higher green zone.
4. **Bullish Continuation**:
- The drawn purple arrow indicates a potential retracement into the support zone, likely around **2635–2640**, before continuing the bullish trend.
- The market structure remains bullish, with higher highs (HH) and higher lows (HL).
---
### **Targets**:
1. **First Target (Short-Term)**: **2650–2660**
- A logical level for partial profit-taking or initial resistance.
2. **Second Target (Mid-Term)**: **2680–2700**
- A higher supply zone, with the potential to act as a significant resistance level.
---
### **Invalidation**:
- A break below **2620** would invalidate the bullish setup and could lead to further downside toward **2600 or lower**.
---
### **Analysis**:
1. **Current Price**:
- Gold is trading around **2645.59**, showing a bullish attempt to break above recent resistance levels.
2. **Demand Zone**:
- A possible higher low (HL) formation is near the **2620–2630 zone**, indicating strong buyer interest. If this level holds, the price may continue its upward movement.
3. **Resistance Areas**:
- The next immediate resistance zone lies between **2650–2660**, where a minor supply zone exists.
- If this zone breaks, the price may target the next significant supply level around **2680–2700**, as suggested by the higher green zone.
4. **Bullish Continuation**:
- The drawn purple arrow indicates a potential retracement into the support zone, likely around **2635–2640**, before continuing the bullish trend.
- The market structure remains bullish, with higher highs (HH) and higher lows (HL).
---
### **Targets**:
1. **First Target (Short-Term)**: **2650–2660**
- A logical level for partial profit-taking or initial resistance.
2. **Second Target (Mid-Term)**: **2680–2700**
- A higher supply zone, with the potential to act as a significant resistance level.
---
### **Invalidation**:
- A break below **2620** would invalidate the bullish setup and could lead to further downside toward **2600 or lower**.
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👉JOIN MY TELEGRAM:
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Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.