This chart shows the price action and potential scenarios for Gold Spot (XAU/USD) against the U.S. Dollar, on a 1-hour timeframe.
Technical Analysis and Zones Highlighted
Support and Demand Zones:
$3,016.994 Zone (Green-Red horizontal lines)
This level is a key support/resistance flip zone, suggesting a potential bounce or consolidation.
Price could pull back to this zone and resume an upward movement (as shown by the arrows).
$3,003.765 Zone (Blue horizontal lines)
Another strong support area, likely to attract buyers if price dips further.
It’s a critical demand level where reversal to the upside is possible.
$2,970–$2,985 Zone (Red shaded area at the bottom)
This zone marks a major demand zone.
If the price breaks below the intermediate supports, this area might act as a strong reversal zone.
Forecasted Price Scenarios (indicated by arrows)
Several potential movement paths are indicated on the chart:
Bullish Continuation Scenarios:
If the price stays above the current level, it could continue rising toward $3,050–$3,060+ levels.
A minor pullback toward $3,017 or $3,004, followed by a bounce, could also lead to further upside.
Retracement and Reversal Scenarios:
Price may pull back to $3,017 or even to $3,004, then bounce again, showing bullish retest behavior.
In case the price drops to $2,970–$2,985, a strong bullish reversal is anticipated.
Bearish Breakdown Possibility:
If all the key support levels break and the price closes below $2,970, a deeper bearish trend could start.
Key Takeaways:
The chart presents multiple "if-then" scenarios based on support-resistance reactions.
Buyers are currently in control, but traders should watch retracement zones closely for possible entries or reversals.
The overall structure suggests a bullish trend.
ALWAYS USE STOPLOSS AND TAKEPROFITS AND ALSO USE PROPER MONEY MANAGEMENT OR RISK MANAGEMENT FOR YOUR TRADES. AND ALSO BOOST FOR APPRICIATES.
Technical Analysis and Zones Highlighted
Support and Demand Zones:
$3,016.994 Zone (Green-Red horizontal lines)
This level is a key support/resistance flip zone, suggesting a potential bounce or consolidation.
Price could pull back to this zone and resume an upward movement (as shown by the arrows).
$3,003.765 Zone (Blue horizontal lines)
Another strong support area, likely to attract buyers if price dips further.
It’s a critical demand level where reversal to the upside is possible.
$2,970–$2,985 Zone (Red shaded area at the bottom)
This zone marks a major demand zone.
If the price breaks below the intermediate supports, this area might act as a strong reversal zone.
Forecasted Price Scenarios (indicated by arrows)
Several potential movement paths are indicated on the chart:
Bullish Continuation Scenarios:
If the price stays above the current level, it could continue rising toward $3,050–$3,060+ levels.
A minor pullback toward $3,017 or $3,004, followed by a bounce, could also lead to further upside.
Retracement and Reversal Scenarios:
Price may pull back to $3,017 or even to $3,004, then bounce again, showing bullish retest behavior.
In case the price drops to $2,970–$2,985, a strong bullish reversal is anticipated.
Bearish Breakdown Possibility:
If all the key support levels break and the price closes below $2,970, a deeper bearish trend could start.
Key Takeaways:
The chart presents multiple "if-then" scenarios based on support-resistance reactions.
Buyers are currently in control, but traders should watch retracement zones closely for possible entries or reversals.
The overall structure suggests a bullish trend.
ALWAYS USE STOPLOSS AND TAKEPROFITS AND ALSO USE PROPER MONEY MANAGEMENT OR RISK MANAGEMENT FOR YOUR TRADES. AND ALSO BOOST FOR APPRICIATES.
Trade active
our 3023 level worked and price move almost 300+ pips after retracement.
now wait for the target.
Trade closed: target reached
our 3rd zone limit active now and also running 200+ pips running
hold till final target.
💰 *Bullion Buzz*: Where gold trading meets modern insights—stay ahead in the market with real-time trends and expert tips. ✨
t.me/bullionbuzz
t.me/bullionbuzz
Related publications
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.
💰 *Bullion Buzz*: Where gold trading meets modern insights—stay ahead in the market with real-time trends and expert tips. ✨
t.me/bullionbuzz
t.me/bullionbuzz
Related publications
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.