This chart represents the price action of Gold Spot (XAU/USD) on a 30-minute timeframe. It highlights key technical levels:
- **Support Zone (Red Box)**: A key area where price previously found buying interest and rebounded.
- **Short-Term Resistance (Black Box)**: A nearby resistance level that may act as an obstacle for further price increases.
- **Major Resistance Zone (Green Box)**: A higher resistance level where sellers may step in if the price rises.
The chart suggests two potential scenarios:
1. A breakout above short-term resistance could lead to further upward movement toward the major resistance zone.
2. A rejection at short-term resistance may cause a retracement toward the support area.
- **Support Zone (Red Box)**: A key area where price previously found buying interest and rebounded.
- **Short-Term Resistance (Black Box)**: A nearby resistance level that may act as an obstacle for further price increases.
- **Major Resistance Zone (Green Box)**: A higher resistance level where sellers may step in if the price rises.
The chart suggests two potential scenarios:
1. A breakout above short-term resistance could lead to further upward movement toward the major resistance zone.
2. A rejection at short-term resistance may cause a retracement toward the support area.
Trade active
### **Chart Status: Gold (XAU/USD) Price Action Analysis** - **Current Price:** $3,022.79
- **Support Level:** Around $3,005 (Red Box)
- **Short-Term Resistance:** Around $3,030 (Black Box)
- **Major Resistance:** Around $3,050–$3,055 (Green Box)
#### **Potential Scenarios:**
✅ **Bullish Case:**
- If the price breaks above short-term resistance (~$3,030), it could target the major resistance zone (~$3,050–$3,055).
❌ **Bearish Case:**
- If the price gets rejected at short-term resistance, it may retest the support zone (~$3,005).
Note
Price has reached the support area (red box), where a 250Pip Move has been Achieved.
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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.