XAU/USD (Gold Spot / U.S. Dollar) 4-hour analysis with various technical indicators:
• Ascending Channel: Price is moving within an upward channel, highlighted in blue.
• Black Dots: Indicate possible resistance or swing high points.
• Blue Dots: Represent potential support levels or swing low points.
• Red Zone: Around 2,883.157, acting as a key support area where price might bounce.
• Entry Zone: Around 2,942.206, where a breakout or rejection could occur.
• Targets:
• 3,001.973
• 3,025.000
• 3,050.210
This chart suggests that gold is trading within a rising channel, moving towards resistance. A breakout above the channel could signal further bullish momentum, while a move downward might test the red zone as a support level.
• Ascending Channel: Price is moving within an upward channel, highlighted in blue.
• Black Dots: Indicate possible resistance or swing high points.
• Blue Dots: Represent potential support levels or swing low points.
• Red Zone: Around 2,883.157, acting as a key support area where price might bounce.
• Entry Zone: Around 2,942.206, where a breakout or rejection could occur.
• Targets:
• 3,001.973
• 3,025.000
• 3,050.210
This chart suggests that gold is trading within a rising channel, moving towards resistance. A breakout above the channel could signal further bullish momentum, while a move downward might test the red zone as a support level.
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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.
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.