There was a downtrend shown with a steep blue channel where price kept falling.
• After the downtrend, price reversed and moved sideways (consolidation).
• Resistance Line: A horizontal blue line on top of the consolidation shows resistance — price touched it twice but couldn’t break higher.
• Pattern:
• After failing at resistance, price fell again.
• It seems to have found support (around the lower blue dashed lines near 3236-3227).
• Prediction/Arrow:
• The blue arrow suggests that the price is expected to move up from the current area.
• Target could be a retest of the previous resistance near 3360.
In short:
This chart shows Gold has fallen into a support zone after a previous bullish setup, and the expectation is for a bullish move (uptrend) to begin soon.
• After the downtrend, price reversed and moved sideways (consolidation).
• Resistance Line: A horizontal blue line on top of the consolidation shows resistance — price touched it twice but couldn’t break higher.
• Pattern:
• After failing at resistance, price fell again.
• It seems to have found support (around the lower blue dashed lines near 3236-3227).
• Prediction/Arrow:
• The blue arrow suggests that the price is expected to move up from the current area.
• Target could be a retest of the previous resistance near 3360.
In short:
This chart shows Gold has fallen into a support zone after a previous bullish setup, and the expectation is for a bullish move (uptrend) to begin soon.
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World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+lJgNKjMiTJ82M2I0
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+lJgNKjMiTJ82M2I0
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.