XAU/USD (1H) Technical Analysis – March 11, 2025
Market Structure & Trendlines:
Gold has been in an uptrend, consistently making higher highs and higher lows.
The previous trendline was broken, leading to a temporary pullback.
A new trendline has formed, acting as a dynamic support level for potential further upside movement.
Price Action & Key Levels:
Gold is currently trading around $2,912, staying above the newly established trendline.
If the price respects this trendline, we could see a bullish continuation toward $2,950+.
A break below the new trendline may indicate a deeper correction toward $2,850 or lower.
Volume & RSI Analysis:
Volume shows steady interest, but no major spikes, suggesting a gradual accumulation phase.
RSI (14) at 61.81, indicating bullish momentum, but not yet in the overbought zone.
If RSI crosses 70, it may signal an overextension before a potential retracement.
Potential Trading Scenarios:
Bullish Case:
Price stays above the new trendline, confirming it as support.
Target: $2,950 - $3,000 if momentum continues.
Bearish Case:
Price breaks below the trendline, leading to a correction.
Target: $2,850 - $2,800 support zone.
Market Structure & Trendlines:
Gold has been in an uptrend, consistently making higher highs and higher lows.
The previous trendline was broken, leading to a temporary pullback.
A new trendline has formed, acting as a dynamic support level for potential further upside movement.
Price Action & Key Levels:
Gold is currently trading around $2,912, staying above the newly established trendline.
If the price respects this trendline, we could see a bullish continuation toward $2,950+.
A break below the new trendline may indicate a deeper correction toward $2,850 or lower.
Volume & RSI Analysis:
Volume shows steady interest, but no major spikes, suggesting a gradual accumulation phase.
RSI (14) at 61.81, indicating bullish momentum, but not yet in the overbought zone.
If RSI crosses 70, it may signal an overextension before a potential retracement.
Potential Trading Scenarios:
Bullish Case:
Price stays above the new trendline, confirming it as support.
Target: $2,950 - $3,000 if momentum continues.
Bearish Case:
Price breaks below the trendline, leading to a correction.
Target: $2,850 - $2,800 support zone.
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.