The chart shows an analysis of XAU/USD (Gold Spot vs. US Dollar)
Supply Zone:
A highlighted rectangular area above the current price indicates a supply zone. This is where selling pressure is expected to increase, causing potential reversals or pauses in upward momentum.
Key Levels:
Several red horizontal zones are marked as potential support and resistance levels.
The first support level lies just below the current price.
A lower support area (darker red) is marked further below, possibly indicating a significant target for bearish movements.
Price Action Projection:
The blue arrow suggests a potential retracement to the supply zone before a bearish move down to the lower support zone.
Market Sentiment:
This analysis implies a bearish outlook for gold after a potential pullback.
A highlighted rectangular area above the current price indicates a supply zone. This is where selling pressure is expected to increase, causing potential reversals or pauses in upward momentum.
Key Levels:
Several red horizontal zones are marked as potential support and resistance levels.
The first support level lies just below the current price.
A lower support area (darker red) is marked further below, possibly indicating a significant target for bearish movements.
Price Action Projection:
The blue arrow suggests a potential retracement to the supply zone before a bearish move down to the lower support zone.
Market Sentiment:
This analysis implies a bearish outlook for gold after a potential pullback.
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