This is a price chart from TradingView for Gold CFDs (Contracts for Difference) in US dollars per ounce on a 1-hour timeframe.
Key Observations:
1. Resistance Zone (Red Area):
The price has reached a strong resistance level around 2,940 - 2,960.
This means the price has struggled to move higher from this zone.
2. Upward Trends (Blue Lines):
Several price increases have been marked with blue trend lines, indicating previous bullish momentum.
3. Potential Downtrend (Blue Arrows):
The chart suggests that after testing resistance, the price may drop.
The blue arrows indicate a possible downward movement toward 2,920 and possibly lower.
4. Support Level (Yellow Line at 2,879.699):
This could be the next major support if the price continues to drop.
Interpretation:
The chart suggests a bearish outlook after hitting resistance.
If sellers take control, gold may decline toward the 2,920 level or lower.
If the price breaks the 2,879 support, further declines may occur.
However, if it breaks above **
Key Observations:
1. Resistance Zone (Red Area):
The price has reached a strong resistance level around 2,940 - 2,960.
This means the price has struggled to move higher from this zone.
2. Upward Trends (Blue Lines):
Several price increases have been marked with blue trend lines, indicating previous bullish momentum.
3. Potential Downtrend (Blue Arrows):
The chart suggests that after testing resistance, the price may drop.
The blue arrows indicate a possible downward movement toward 2,920 and possibly lower.
4. Support Level (Yellow Line at 2,879.699):
This could be the next major support if the price continues to drop.
Interpretation:
The chart suggests a bearish outlook after hitting resistance.
If sellers take control, gold may decline toward the 2,920 level or lower.
If the price breaks the 2,879 support, further declines may occur.
However, if it breaks above **
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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.
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.