⚙️ 1. Short-Term Trend
On the 1-hour timeframe, gold price is consolidating in a narrow range between $3,220 – $3,243 following a pullback from the recent peak at $3,265. Recent candlesticks suggest that selling pressure is weakening, but no clear reversal signal has appeared yet. The main trend remains slightly bearish within a tight channel, awaiting a breakout.
📍 2. Key Technical Levels
• Nearby Resistance:
o $3,230: A mid-session resistance level that has been tested multiple times but not yet convincingly broken.
o $3,243: Intraday high. A break above this level could trigger a move toward $3,265, with potential extension to $3,280.
• Key Support:
o $3,220: Minor intraday support, currently under repeated testing.
o $3,200: Strong support and a critical technical level. A breakdown below this level may lead to further decline toward $3,185 – $3,170.
📈 3. Technical Indicators
• EMA 50 & 200 (H1): Price is trading between the 50 and 200 EMAs, indicating consolidation and indecision before a breakout.
• RSI (14): Hovering around 45–50, suggesting slowing bearish momentum, but no clear sign of a bullish reversal.
💡 Short-Term Trade Scenarios:
SELL XAU/USD Zone : 3240 – 3243
💰 TP : 3235 – 3238
🚨 SL $3245
BUY XAU/USD Zone: 3219 – 3222
💰 TP : 3224 – 3227
🚨 SL $3214
⚠️ Trading Note
Volatility may spike if there is news from the Fed or new geopolitical developments.
On the 1-hour timeframe, gold price is consolidating in a narrow range between $3,220 – $3,243 following a pullback from the recent peak at $3,265. Recent candlesticks suggest that selling pressure is weakening, but no clear reversal signal has appeared yet. The main trend remains slightly bearish within a tight channel, awaiting a breakout.
📍 2. Key Technical Levels
• Nearby Resistance:
o $3,230: A mid-session resistance level that has been tested multiple times but not yet convincingly broken.
o $3,243: Intraday high. A break above this level could trigger a move toward $3,265, with potential extension to $3,280.
• Key Support:
o $3,220: Minor intraday support, currently under repeated testing.
o $3,200: Strong support and a critical technical level. A breakdown below this level may lead to further decline toward $3,185 – $3,170.
📈 3. Technical Indicators
• EMA 50 & 200 (H1): Price is trading between the 50 and 200 EMAs, indicating consolidation and indecision before a breakout.
• RSI (14): Hovering around 45–50, suggesting slowing bearish momentum, but no clear sign of a bullish reversal.
💡 Short-Term Trade Scenarios:
SELL XAU/USD Zone : 3240 – 3243
💰 TP : 3235 – 3238
🚨 SL $3245
BUY XAU/USD Zone: 3219 – 3222
💰 TP : 3224 – 3227
🚨 SL $3214
⚠️ Trading Note
Volatility may spike if there is news from the Fed or new geopolitical developments.
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.
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.