This chart is a technical analysis of Gold (CFDs on Gold, US$/OZ) on a 1-hour timeframe from TradingView. Here’s what it represents:
1. Support and Resistance Levels:
Red Lines: Represent resistance levels, where the price has struggled to move higher.
Blue Lines: Represent support levels, where the price has previously bounced back up.
2. Current Market Status:
The price of gold is at $2,907.405, showing a decline of -1.53%.
The nearest resistance level is around $2,956.150, while a key support level is near $2,880.000 (highlighted in the red shaded zone).
3. Technical Indicators:
A bearish signal (red arrow) shows selling pressure at the recent resistance.
A bullish bounce zone is indicated in the pink shaded area, suggesting a possible reversal or buying opportunity.
A blue arrow suggests a possible upward move from the support zone.
Interpretation:
If price holds the support zone near $2,880 - $2,900, a rebound towards $2,921 - $2,956 is possible.
If price breaks below this support, further downside movement could occur.
1. Support and Resistance Levels:
Red Lines: Represent resistance levels, where the price has struggled to move higher.
Blue Lines: Represent support levels, where the price has previously bounced back up.
2. Current Market Status:
The price of gold is at $2,907.405, showing a decline of -1.53%.
The nearest resistance level is around $2,956.150, while a key support level is near $2,880.000 (highlighted in the red shaded zone).
3. Technical Indicators:
A bearish signal (red arrow) shows selling pressure at the recent resistance.
A bullish bounce zone is indicated in the pink shaded area, suggesting a possible reversal or buying opportunity.
A blue arrow suggests a possible upward move from the support zone.
Interpretation:
If price holds the support zone near $2,880 - $2,900, a rebound towards $2,921 - $2,956 is possible.
If price breaks below this support, further downside movement could occur.
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.
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.