This chart shows gold trading within an ascending channel, with key levels of support and resistance.
- Current Price: 3,092.900
- Resistance Zone: Around 3,155 (Target)
- Support Zone: Price is testing this area now, potential for a bounce.
- Major Support Zone: Below at around 3,040, acting as a secondary buy opportunity.
Key Observations:
- Rejection at Resistance: Price failed to break higher and is now pulling back.
- Potential Bounce: If support holds, price may push back toward 3,155.
- Break Below Support:** A deeper retracement to the **major support zone could happen before a stronger buy setup.
- First Target:3,155 (Resistance Zone)
- Second Target: If momentum continues, next upside levels could be around **3,180–3,200**
If the support zone fails and price moves lower:
- First Downside Target: 3,040 (Major Support Zone)
- Second Downside Target: 3,000 (Psychological Level)
The reaction at the support zone will determine the next move. If it holds, we look for buys targeting 3,155. If it breaks, we shift focus to the major support at 3,040.
- Current Price: 3,092.900
- Resistance Zone: Around 3,155 (Target)
- Support Zone: Price is testing this area now, potential for a bounce.
- Major Support Zone: Below at around 3,040, acting as a secondary buy opportunity.
Key Observations:
- Rejection at Resistance: Price failed to break higher and is now pulling back.
- Potential Bounce: If support holds, price may push back toward 3,155.
- Break Below Support:** A deeper retracement to the **major support zone could happen before a stronger buy setup.
- First Target:3,155 (Resistance Zone)
- Second Target: If momentum continues, next upside levels could be around **3,180–3,200**
If the support zone fails and price moves lower:
- First Downside Target: 3,040 (Major Support Zone)
- Second Downside Target: 3,000 (Psychological Level)
The reaction at the support zone will determine the next move. If it holds, we look for buys targeting 3,155. If it breaks, we shift focus to the major support at 3,040.
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Disclaimer
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👉JOIN MY TELEGRAM:
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📞TELEGRAM ME
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Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.