Analysis:
Gold (XAU/USD) has approached a strong resistance zone between 3370 and 3440. After retesting this area, the price is showing signs of a potential bearish reversal. The recent lower high compared to the previous swing high suggests weakening bullish momentum.
📍 Entry Zone: Around 3370 (current price area)
🔴 Stop Loss: 3440 (above the resistance zone)
🟢 Take Profit 1: 3300
🟢 Take Profit 2: 3240
✅ Final Target: 3190
📊 Technical Basis:
Strong rejection from resistance
Price respecting previous supply zone
Trendline break confirmation
Bearish candlestick formations at the top
⚠️ Note:
This analysis is for educational purposes only. Please do your own research and apply proper risk management before entering any trades.
Gold (XAU/USD) has approached a strong resistance zone between 3370 and 3440. After retesting this area, the price is showing signs of a potential bearish reversal. The recent lower high compared to the previous swing high suggests weakening bullish momentum.
📍 Entry Zone: Around 3370 (current price area)
🔴 Stop Loss: 3440 (above the resistance zone)
🟢 Take Profit 1: 3300
🟢 Take Profit 2: 3240
✅ Final Target: 3190
📊 Technical Basis:
Strong rejection from resistance
Price respecting previous supply zone
Trendline break confirmation
Bearish candlestick formations at the top
⚠️ Note:
This analysis is for educational purposes only. Please do your own research and apply proper risk management before entering any trades.
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.