This chart shows gold (XAUUSD) on the 1-hour timeframe, highlighting a double top at a key resistance zone. The price has reached this resistance and may experience a rejection, potentially triggering a sell-off.
A downward move is projected with two targets:
1. First target around the previous support zone.
2. Second target near the trendline and a deeper support level.
The breakout from the descending trendline suggests a shift in momentum, but rejection at the resistance could confirm a bearish reversal. If sellers take control, the price may drop toward the indicated targets.
First TP: Around 3,040 (previous support zone).
Second TP: Around 3,025 (near trendline support).
If price confirms rejection from the double top resistance, these levels could act as key downside targets.
A downward move is projected with two targets:
1. First target around the previous support zone.
2. Second target near the trendline and a deeper support level.
The breakout from the descending trendline suggests a shift in momentum, but rejection at the resistance could confirm a bearish reversal. If sellers take control, the price may drop toward the indicated targets.
First TP: Around 3,040 (previous support zone).
Second TP: Around 3,025 (near trendline support).
If price confirms rejection from the double top resistance, these levels could act as key downside targets.
Trade active
Congratulations 1st target achieved market reached 3033
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t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
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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.