🟦 Chart Context:
Type: Intraday (likely 15m or 1h timeframe).
Indicators Used:
EMA 50 (Red): 3,316.497
EMA 200 (Blue): 3,316.332
Current Price: 3,312.650
🔍 Technical Analysis:
1. Trend & Moving Averages:
EMA Crossover (Bearish): The 50 EMA is slightly above the 200 EMA, but both are flat and converging, suggesting a neutral to slightly bearish short-term sentiment.
Price below both EMAs indicates bearish pressure in the immediate term.
2. Key Zones:
Resistance Zone: 3,355 – 3,370
Price was previously rejected from this zone, indicating strong supply and likely sell orders.
Support Zone: 3,295 – 3,305
Price has bounced here multiple times, suggesting active buyers.
Strong Support: 3,265 – 3,275
A broader and more historically respected area that could lead to a significant reversal if tested.
3. Price Action:
Currently forming lower highs and lower lows, which is a classic sign of short-term weakness.
A small descending triangle appears to be forming near the support level (bearish bias), but the drawn forecast suggests a potential fakeout breakdown followed by a bullish reversal.
4. Expected Scenario (as per chart projection):
Price might dip briefly into the 3,295–3,305 support, triggering liquidity grab (stop hunts).
A potential bullish rally towards the 3,355–3,370 resistance zone is expected.
This suggests a buy-the-dip strategy near support with tight risk management.
📈 Trade Outlook:
🟢 Bullish Bias:
If the support at 3,295–3,305 holds and price reclaims the 200 EMA convincingly.
Target: 3,355–3,370 resistance zone.
🔴 Bearish Bias:
If price breaks below the strong support (3,265), expect continuation lower.
Downside targets would then extend towards 3,240–3,250.
✅ Conclusion:
Current bias: Neutral to short-term bearish unless the lower support holds.
Key action zone: Watch price reaction around 3,295.
Strategy suggestion: Monitor for a bullish reversal signal at support; avoid chasing trades in the middle of the range.
Type: Intraday (likely 15m or 1h timeframe).
Indicators Used:
EMA 50 (Red): 3,316.497
EMA 200 (Blue): 3,316.332
Current Price: 3,312.650
🔍 Technical Analysis:
1. Trend & Moving Averages:
EMA Crossover (Bearish): The 50 EMA is slightly above the 200 EMA, but both are flat and converging, suggesting a neutral to slightly bearish short-term sentiment.
Price below both EMAs indicates bearish pressure in the immediate term.
2. Key Zones:
Resistance Zone: 3,355 – 3,370
Price was previously rejected from this zone, indicating strong supply and likely sell orders.
Support Zone: 3,295 – 3,305
Price has bounced here multiple times, suggesting active buyers.
Strong Support: 3,265 – 3,275
A broader and more historically respected area that could lead to a significant reversal if tested.
3. Price Action:
Currently forming lower highs and lower lows, which is a classic sign of short-term weakness.
A small descending triangle appears to be forming near the support level (bearish bias), but the drawn forecast suggests a potential fakeout breakdown followed by a bullish reversal.
4. Expected Scenario (as per chart projection):
Price might dip briefly into the 3,295–3,305 support, triggering liquidity grab (stop hunts).
A potential bullish rally towards the 3,355–3,370 resistance zone is expected.
This suggests a buy-the-dip strategy near support with tight risk management.
📈 Trade Outlook:
🟢 Bullish Bias:
If the support at 3,295–3,305 holds and price reclaims the 200 EMA convincingly.
Target: 3,355–3,370 resistance zone.
🔴 Bearish Bias:
If price breaks below the strong support (3,265), expect continuation lower.
Downside targets would then extend towards 3,240–3,250.
✅ Conclusion:
Current bias: Neutral to short-term bearish unless the lower support holds.
Key action zone: Watch price reaction around 3,295.
Strategy suggestion: Monitor for a bullish reversal signal at support; avoid chasing trades in the middle of the range.
Trade active
✅ Market Update – XAUUSD
The price action unfolded as expected, with XAUUSD reaching the $3330 target zone 🎯 before retracing. It's now hovering around the $3320–$3310 levels 🔄, showing signs of consolidation.
📉 If the current zone holds as a minor support, we could see a potential bullish reaction 🔁.
📌 However, a break below $3310 may expose price to deeper support levels around $3295–$3300.
📊 Key Levels to Watch:
Support: $3310 / $3295
Resistance: $3330 / $3355
Stay sharp and manage risk accordingly! ⚠️💼
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JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
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PARTNER CODE⤵️
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t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
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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.