Gold (XAU/USD) Technical Analysis – 4H Chart
Price in Range
Gold is currently consolidating between a key resistance area around $3,140 and a support area near $3,112 or 3100. This range suggests indecision in the market as bulls and bears battle for control.
Resistance and Support Levels
- Resistance Area: $3,130 Or 3140, A breakout above this level could lead to further upside.
- Support Area: $3,112 Or 3100 – Holding above this zone could maintain bullish momentum.
- Buying Area: $3,084 – $3,086 – A strong demand zone that previously triggered a price bounce.
Volume Analysis – Caution on Selling Pressure
There is high selling volume near resistance, signaling potential weakness and a possible rejection. If selling pressure continues, gold may test support levels again before any bullish breakout attempt.
Key Takeaway
- A break above $3,140 could confirm further bullish momentum.
- A rejection from resistance may push gold towards support or the buying area.
- Watch for volume confirmation before entering trades.
If you enjoy, press the like button.
Price in Range
Gold is currently consolidating between a key resistance area around $3,140 and a support area near $3,112 or 3100. This range suggests indecision in the market as bulls and bears battle for control.
Resistance and Support Levels
- Resistance Area: $3,130 Or 3140, A breakout above this level could lead to further upside.
- Support Area: $3,112 Or 3100 – Holding above this zone could maintain bullish momentum.
- Buying Area: $3,084 – $3,086 – A strong demand zone that previously triggered a price bounce.
Volume Analysis – Caution on Selling Pressure
There is high selling volume near resistance, signaling potential weakness and a possible rejection. If selling pressure continues, gold may test support levels again before any bullish breakout attempt.
Key Takeaway
- A break above $3,140 could confirm further bullish momentum.
- A rejection from resistance may push gold towards support or the buying area.
- Watch for volume confirmation before entering trades.
If you enjoy, press the like button.
Trade active
Note
it was activated from 3133Trade closed: target reached
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💸FREE FOREX Signals in Telegram : t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
Related publications
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.