Trend Context:
The chart shows a potential bullish reversal setup.
Price is consolidating around the marked support level (~$65–$66).
🔹 Key Technicals:
EMA 50 (red line) is at ~$67.48 — currently acting as near-term resistance.
EMA 200 (blue line) is at ~$66.79 — price is hovering just below this, indicating the area is a pivot zone.
The 200 EMA is flattening, suggesting the strong downtrend is slowing.
🔹 Price Structure:
The pattern projects a potential bounce from the support zone with two upside targets:
1st Target: $72.13
2nd Target: $77.28
The path drawn shows a possible retest of support before launching upwards.
🔹 RSI:
RSI is around 43.94, indicating momentum is neutral to slightly oversold — this supports the idea of a rebound if buying pressure returns.
✅ Summary:
Bias: Early bullish reversal.
Key Zone: Hold above $65–$66 support.
Upside Targets: $72.13 and $77.28.
Watch: Reaction near EMA 50/200 — breaking above and retesting them as support would strengthen the bullish case.
The chart shows a potential bullish reversal setup.
Price is consolidating around the marked support level (~$65–$66).
🔹 Key Technicals:
EMA 50 (red line) is at ~$67.48 — currently acting as near-term resistance.
EMA 200 (blue line) is at ~$66.79 — price is hovering just below this, indicating the area is a pivot zone.
The 200 EMA is flattening, suggesting the strong downtrend is slowing.
🔹 Price Structure:
The pattern projects a potential bounce from the support zone with two upside targets:
1st Target: $72.13
2nd Target: $77.28
The path drawn shows a possible retest of support before launching upwards.
🔹 RSI:
RSI is around 43.94, indicating momentum is neutral to slightly oversold — this supports the idea of a rebound if buying pressure returns.
✅ Summary:
Bias: Early bullish reversal.
Key Zone: Hold above $65–$66 support.
Upside Targets: $72.13 and $77.28.
Watch: Reaction near EMA 50/200 — breaking above and retesting them as support would strengthen the bullish case.
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Join My Official Channel Link
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
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.