XAU Upcoming Analysis
Analysis:
1. Trend Change: The chart shows a sharp rise followed by a pullback, indicating that the strong bullish momentum has paused. The price then experienced some volatility, with lower highs forming after the peak.
2. Support Levels:
• The price tested the 2483.25 area, where it found support before attempting to move back up.
• The price is now approaching the 2497.15 level, which could act as a potential resistance or pivot point.
3. Resistance Levels:
• The peak near 2530.05 marks a significant resistance level.
• Intermediate resistance may be observed around 2506.80 and 2512.50
1. Trend Change: The chart shows a sharp rise followed by a pullback, indicating that the strong bullish momentum has paused. The price then experienced some volatility, with lower highs forming after the peak.
2. Support Levels:
• The price tested the 2483.25 area, where it found support before attempting to move back up.
• The price is now approaching the 2497.15 level, which could act as a potential resistance or pivot point.
3. Resistance Levels:
• The peak near 2530.05 marks a significant resistance level.
• Intermediate resistance may be observed around 2506.80 and 2512.50
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