SMC trading point update
Technical analysis of (XAU/USD) on the 6-hour timeframe, focusing on a key resistance zone that could trigger either a bullish breakout or a bearish reversal.
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Analysis Summary
Current Price: $3,357.95
Trend Context: Price is testing a strong resistance zone with a possible breakout or rejection in play.
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Scenario 1 – Bullish Breakout
1. Resistance Zone: $3,357–$3,372
Multiple previous rejections.
A confirmed close above $3,372.77 signals bullish strength.
2. Upside Targets:
Target 1: $3,393.87
Target 2: $3,452.08
3. Indicators:
RSI at 63.74, approaching overbought but still with room to rally.
EMA 200 is trending upward, supporting bullish bias.
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Scenario 2 – Bearish Rejection
1. If price fails to close above $3,372.77, a rejection from resistance is likely.
2. Downside Targets:
Reversal projected toward the key support zone at $3,246.97
EMA 200 at $3,300.97 may provide temporary support before breakdown.
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Trade Ideas
Direction Entry Level Stop-Loss Target 1 Target 2
Bullish Close above $3,372 Below $3,346 $3,393.87 $3,452.08
Bearish Rejection from $3,357–$3,372 Above $3,380 $3,300 → $3,246.97
Mr SMC Trading point
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Summary
This is a critical decision point for Gold. A breakout above resistance can propel price to $3,450, while rejection could drive price back to $3,246. The reaction at the current zone will dictate the next major swing.
Please support boost 🚀 this analysis)
Technical analysis of (XAU/USD) on the 6-hour timeframe, focusing on a key resistance zone that could trigger either a bullish breakout or a bearish reversal.
---
Analysis Summary
Current Price: $3,357.95
Trend Context: Price is testing a strong resistance zone with a possible breakout or rejection in play.
---
Scenario 1 – Bullish Breakout
1. Resistance Zone: $3,357–$3,372
Multiple previous rejections.
A confirmed close above $3,372.77 signals bullish strength.
2. Upside Targets:
Target 1: $3,393.87
Target 2: $3,452.08
3. Indicators:
RSI at 63.74, approaching overbought but still with room to rally.
EMA 200 is trending upward, supporting bullish bias.
---
Scenario 2 – Bearish Rejection
1. If price fails to close above $3,372.77, a rejection from resistance is likely.
2. Downside Targets:
Reversal projected toward the key support zone at $3,246.97
EMA 200 at $3,300.97 may provide temporary support before breakdown.
---
Trade Ideas
Direction Entry Level Stop-Loss Target 1 Target 2
Bullish Close above $3,372 Below $3,346 $3,393.87 $3,452.08
Bearish Rejection from $3,357–$3,372 Above $3,380 $3,300 → $3,246.97
Mr SMC Trading point
---
Summary
This is a critical decision point for Gold. A breakout above resistance can propel price to $3,450, while rejection could drive price back to $3,246. The reaction at the current zone will dictate the next major swing.
Please support boost 🚀 this analysis)
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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.
(Services:✔️ JOIN Telegram channel
t.me/SMCTrading_point
Gold trading signals 🚀 99%
t.me/SMCTrading_point
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
t.me/SMCTrading_point
Gold trading signals 🚀 99%
t.me/SMCTrading_point
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.