This chart is a technical analysis of Gold (CFDs on Gold, US$/OZ) on a 1-hour timeframe, created using TradingView. It displays support and resistance levels, along with potential price movements. Here's what it means:
1. Support & Resistance Levels:
Red horizontal lines represent resistance (price levels where selling pressure is strong).
Blue horizontal lines represent support (price levels where buying pressure is strong).
2. Key Price Levels:
Current price: 2,911.040 (falling by -41.685 (-1.41%)).
Nearest resistance: 2,956.150.
Nearest support: Around 2,921.055.
3. Bearish Move & Potential Recovery:
A sharp drop in price occurred, touching the highlighted red box (potential demand zone).
1. Support & Resistance Levels:
Red horizontal lines represent resistance (price levels where selling pressure is strong).
Blue horizontal lines represent support (price levels where buying pressure is strong).
2. Key Price Levels:
Current price: 2,911.040 (falling by -41.685 (-1.41%)).
Nearest resistance: 2,956.150.
Nearest support: Around 2,921.055.
3. Bearish Move & Potential Recovery:
A sharp drop in price occurred, touching the highlighted red box (potential demand zone).
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✅ BTC & other coins
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✅ USDJPY
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Telegram channel 👇👇
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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.
World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
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.