Gold resistance and Support ( read the caption)
The chart shows the price movement of Gold Spot against the U.S. Dollar (XAU/USD) on a 30-minute timeframe. The key elements of the analysis are:
1. Support Zone: The area marked in red around the 2,660 level represents a support zone where the price has previously bounced back up after reaching this level. This suggests strong buying interest around this area.
2. Resistance Zone: The blue area around the 2,697.950 level represents a resistance zone where the price has previously faced selling pressure, preventing it from rising further. This indicates strong selling interest around this area.
3. Current Price: The current price is shown as 2,675.405 with a slight decline of 2.105 points (-0.08%).
4. Bid and Ask Prices: The bid price is 2,675.130, and the ask price is 2,675.690, indicating a small spread, typical of liquid markets.
5. Price Movements: The chart shows recent price action, with the price rising from the support zone, encountering resistance around the resistance zone, and then moving back towards the support zone before stabilizing near the current level.
This analysis highlights the importance of the identified support and resistance levels, which can be critical in determining potential entry and exit points for trades.
1. Support Zone: The area marked in red around the 2,660 level represents a support zone where the price has previously bounced back up after reaching this level. This suggests strong buying interest around this area.
2. Resistance Zone: The blue area around the 2,697.950 level represents a resistance zone where the price has previously faced selling pressure, preventing it from rising further. This indicates strong selling interest around this area.
3. Current Price: The current price is shown as 2,675.405 with a slight decline of 2.105 points (-0.08%).
4. Bid and Ask Prices: The bid price is 2,675.130, and the ask price is 2,675.690, indicating a small spread, typical of liquid markets.
5. Price Movements: The chart shows recent price action, with the price rising from the support zone, encountering resistance around the resistance zone, and then moving back towards the support zone before stabilizing near the current level.
This analysis highlights the importance of the identified support and resistance levels, which can be critical in determining potential entry and exit points for trades.
Trade active
Trade closed: target reached
Gold Free Signals 👇👇
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
Gold Free Signals 👇👇
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
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.