This chart is a 1-hour timeframe for Gold CFDs (US$/OZ), showing recent price action and some technical analysis:
1. Current Price: Around 3,219.587, up by 1.39%.
2. Price Zones: Several red rectangles highlight key support and resistance zones:
Resistance near 3,220–3,300
Support around 3,110 and again near 3,000
3. Price Projection (Red Arrows): The red arrows indicate a potential bearish scenario:
Price might consolidate or fake out above the resistance
Then sharply fall back to retest lower support zones, possibly breaking down toward 3,000
4. Key Takeaway: The chart suggests the current rally might be nearing exhaustion, with a potential pullback expected. Traders might look for confirmation of rejection at the top and signs of breakdown at support levels.
Are you looking to trade this move or just analyzing the trend?
1. Current Price: Around 3,219.587, up by 1.39%.
2. Price Zones: Several red rectangles highlight key support and resistance zones:
Resistance near 3,220–3,300
Support around 3,110 and again near 3,000
3. Price Projection (Red Arrows): The red arrows indicate a potential bearish scenario:
Price might consolidate or fake out above the resistance
Then sharply fall back to retest lower support zones, possibly breaking down toward 3,000
4. Key Takeaway: The chart suggests the current rally might be nearing exhaustion, with a potential pullback expected. Traders might look for confirmation of rejection at the top and signs of breakdown at support levels.
Are you looking to trade this move or just analyzing the trend?
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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
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
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.