📊 Timeframe: 1H
💰 Current Price: $2,942
📈 Trend: Uptrend
Analysis:
Gold is trading within a well-defined ascending channel, forming higher highs and higher lows. The price recently tested the upper boundary near $2,960 - $2,980 and is now pulling back toward key support levels.
Key Levels to Watch:
✅ Support Zone: $2,920 - $2,930
✅ Resistance Zone: $2,960 - $2,980
✅ Breakout Target: $3,000+ if price maintains bullish momentum
Trade Plan:
🔹 Bullish Scenario:
If price holds the lower trendline support, a bounce could push it toward $2,960 - $2,980.
A breakout above $2,980 could trigger a move to $3,000+.
🔻 Bearish Scenario:
If price breaks below $2,920, a deeper retracement toward $2,880 is possible.
💰 Current Price: $2,942
📈 Trend: Uptrend
Analysis:
Gold is trading within a well-defined ascending channel, forming higher highs and higher lows. The price recently tested the upper boundary near $2,960 - $2,980 and is now pulling back toward key support levels.
Key Levels to Watch:
✅ Support Zone: $2,920 - $2,930
✅ Resistance Zone: $2,960 - $2,980
✅ Breakout Target: $3,000+ if price maintains bullish momentum
Trade Plan:
🔹 Bullish Scenario:
If price holds the lower trendline support, a bounce could push it toward $2,960 - $2,980.
A breakout above $2,980 could trigger a move to $3,000+.
🔻 Bearish Scenario:
If price breaks below $2,920, a deeper retracement toward $2,880 is possible.
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.
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.