Gold (XAU/USD) is currently trading within a descending channel on the 15-minute timeframe. Price has recently touched the lower boundary of the channel and is hovering near a key horizontal support level around 3322–3325. A reaction from this area could lead to a potential bounce toward the upper channel resistance.
Price is forming lower highs and lower lows, respecting the descending trend lines.
Key support zone: 3322–3325
Resistance to watch: Around 3346
Trade idea shows a favorable risk-to-reward setup with clearly defined entry, stop, and target levels.
Monitoring for a potential breakout or rejection at current levels.
Price is forming lower highs and lower lows, respecting the descending trend lines.
Key support zone: 3322–3325
Resistance to watch: Around 3346
Trade idea shows a favorable risk-to-reward setup with clearly defined entry, stop, and target levels.
Monitoring for a potential breakout or rejection at current levels.
Trade active
trades active now time to activeTrade closed: target reached
hold for 5 hours 
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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.