This chart represents the price action of Gold (XAU/USD) with a 30-minute time frame on March 7, 2025. It shows a slight bearish trend with the price of gold hovering around 2,916.973 USD
Resistance Zone: A red shaded area around 2,916.973, where the price has been testing, which indicates a potential area for short-term selling or reversal.
Support Zones: The green shaded area and dotted horizontal lines around 2,895.703 and 2,909.724, which may act as support if the price dips further.
The trader's prediction is for a potential downward move, as indicated by the arrow pointing down from the current resistance area. The target for this move seems to be toward the 2,895.703 USD level.
The overall sentiment is bearish, with the trader anticipating a pullback or correction after the price struggles to break through the resistance zone.
Let me know if you'd like more details on any specific area or further analysis!
Resistance Zone: A red shaded area around 2,916.973, where the price has been testing, which indicates a potential area for short-term selling or reversal.
Support Zones: The green shaded area and dotted horizontal lines around 2,895.703 and 2,909.724, which may act as support if the price dips further.
The trader's prediction is for a potential downward move, as indicated by the arrow pointing down from the current resistance area. The target for this move seems to be toward the 2,895.703 USD level.
The overall sentiment is bearish, with the trader anticipating a pullback or correction after the price struggles to break through the resistance zone.
Let me know if you'd like more details on any specific area or further analysis!
Trade active
Resistance Rejection: Price rejected the 2,916 resistance zone, indicating strong selling pressure.Break & Retest: Price broke below a key level and is now retesting before potential continuation downward.
Bearish Target: Aiming for 2,895, with stop-loss above 2,916 to manage risk.
Trade closed: target reached
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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.