Will Gold Hold Support or Break Lower?
Updated
XAUUSD 30-Min Chart AnalysisPotential Scenarios
Bullish Scenario:
• Volume Bullish Divergence: Indicating a potential reversal if buying pressure continues.
• Strong Support: Price is near a key support level, which may hold and prompt an upward move.
• Falling Broadening Wedge: A potential bullish reversal pattern. If confirmed, this could lead to a breakout.
Bearish Scenario:
• If price breaks below the current channel, the next target could be 2656, with a possible further decline toward 2617 if selling pressure persists.
Key Levels to Watch:
• 2695
• 2700
• 2702
• 2710
As always, follow your risk management plan. Good luck, and happy trading!
Trade closed: target reached
Target: 2656.250 Reached
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