๐กXAUUSD Gold Chart Analysis (Daily Timeframe) The price is moving within an ascending price channel. Possible Scenarios: Bull Scenario (Currently Likely): 1. The price rebounds from the lower boundary of the channel. 2. This rebound is consistent with the price behavior within the ascending channel. 3. The price may rise to test the resistance zone (R.1) again. 4. If it breaks through, we may see a new high.
Bearish Scenario: 1. If the price breaks the lower boundary of the channel with a strong candle and a clear close below it. 2. It may head towards the S.1 support zone (green). 3. A break of this zone may change the overall trend from bullish to sideways or bearish. The MACD indicator shows weak upward momentum, but it has not yet turned bearish. We monitor whether it returns to the upside (supporting buying) or enters the red (supporting a decline). We monitor the lower timeframe to look for the right opportunity. โ
โ๏ธNot investment advice for educational purposes only.
Bearish Scenario: 1. If the price breaks the lower boundary of the channel with a strong candle and a clear close below it. 2. It may head towards the S.1 support zone (green). 3. A break of this zone may change the overall trend from bullish to sideways or bearish. The MACD indicator shows weak upward momentum, but it has not yet turned bearish. We monitor whether it returns to the upside (supporting buying) or enters the red (supporting a decline). We monitor the lower timeframe to look for the right opportunity. โ
โ๏ธNot investment advice for educational purposes only.
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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.