Trendline Support (Blue line):
The chart identifies a clear ascending trendline marked with three key bounce points (yellow circles), indicating strong bullish structure and buyer interest at higher lows.
Key Support Zone:
Around $3,334–$3,336, aligning with the 50 EMA (red line), suggesting a potential pullback to this area before the next move up.
EMA Cross Analysis:
Price is hovering just under the 200 EMA (blue line at $3,343.90).
If it holds above the 50 EMA and rebounds from the trendline, it may attempt a bullish breakout through the 200 EMA.
RSI (Relative Strength Index):
RSI is hovering near 53.75, slightly bullish, leaving room for upward momentum.
🎯 Target Levels:
First Target: $3,357.92
Near prior highs and resistance.
Second Target: $3,391.73
Indicates a full projected move (~1.92% upside) from the trendline support region.
🧭 Strategy Outlook:
Bullish Setup: Buy on pullback to the trendline (~$3,334–$3,336), with stops slightly below the trendline.
Invalidation: A break and close below the ascending trendline would weaken the bullish outlook.
The chart identifies a clear ascending trendline marked with three key bounce points (yellow circles), indicating strong bullish structure and buyer interest at higher lows.
Key Support Zone:
Around $3,334–$3,336, aligning with the 50 EMA (red line), suggesting a potential pullback to this area before the next move up.
EMA Cross Analysis:
Price is hovering just under the 200 EMA (blue line at $3,343.90).
If it holds above the 50 EMA and rebounds from the trendline, it may attempt a bullish breakout through the 200 EMA.
RSI (Relative Strength Index):
RSI is hovering near 53.75, slightly bullish, leaving room for upward momentum.
🎯 Target Levels:
First Target: $3,357.92
Near prior highs and resistance.
Second Target: $3,391.73
Indicates a full projected move (~1.92% upside) from the trendline support region.
🧭 Strategy Outlook:
Bullish Setup: Buy on pullback to the trendline (~$3,334–$3,336), with stops slightly below the trendline.
Invalidation: A break and close below the ascending trendline would weaken the bullish outlook.
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Join My Official Channel Link
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
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.