Hello Trader,
Gold (XAU/USD) Analysis & Target:
Technical Overview:
1. Current Price:
Gold is trading around $3,024.265 on the 4H timeframe.
2. Key Resistance Zone (Re_Entry Point):
The chart indicates a potential rejection from the resistance zone near $3,040 - $3,045.
The price may attempt another retest before dropping.
3. Bearish Target:
The target area is near $2,980 - $2,985, as marked in the chart.
The price could decline after failing to break resistance.
4. Trade Plan:
Possible Short Entry: Around the re-entry point ($3,040+).
Bearish Confirmation: If rejection happens in the resistance zone.
Target: Near $2,980, where the next major support lies.
Summary:
Bearish setup: Expected price drop if resistance holds.
Short entry: Around $3,040 - $3,045.
Target: Around $2,980.
Would you like further confirmation using indicators like RSI or moving averages?
Gold (XAU/USD) Analysis & Target:
Technical Overview:
1. Current Price:
Gold is trading around $3,024.265 on the 4H timeframe.
2. Key Resistance Zone (Re_Entry Point):
The chart indicates a potential rejection from the resistance zone near $3,040 - $3,045.
The price may attempt another retest before dropping.
3. Bearish Target:
The target area is near $2,980 - $2,985, as marked in the chart.
The price could decline after failing to break resistance.
4. Trade Plan:
Possible Short Entry: Around the re-entry point ($3,040+).
Bearish Confirmation: If rejection happens in the resistance zone.
Target: Near $2,980, where the next major support lies.
Summary:
Bearish setup: Expected price drop if resistance holds.
Short entry: Around $3,040 - $3,045.
Target: Around $2,980.
Would you like further confirmation using indicators like RSI or moving averages?
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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.
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.