XAUUSD: Monthly & WEEKLY TIME FRAME ANALYSIS
XAUUSD Technical Analysis
Monthly Timeframe:
The bullish cup and handle pattern observed on the monthly chart highlights a breakout above the neckline at $2080, projecting a long-term target of $3103. However, the Bollinger Bands indicate that current volatility levels extend up to $2788, suggesting caution near this range. The monthly resistance zone between $2750 and $2755 also poses a significant obstacle to further upside momentum.
Weekly Timeframe:
A critical support zone has formed between $2550 and $2556, underpinning the price. Should this support level be breached, there is a high probability of XAUUSD moving toward the monthly demand zone, reflecting increased selling pressure in the market.
Daily Timeframe:
Currently, price action is consolidating within the range of $2556 to $2756, signaling indecision. A breakout from this zone—whether upward or downward—will likely determine the next major trend. Observing the formation of any reversal or continuation patterns within this consolidation zone will provide further clarity on the long-term direction.
[3:10 pm, 26/11/2024] Md Golam Rabbani: without getting any strong reversal or continuation breakout confirmation it will not be wise decision to jump into the long term investment.
This analysis is for educational purposes only and does not constitute financial advice.
Monthly Timeframe:
The bullish cup and handle pattern observed on the monthly chart highlights a breakout above the neckline at $2080, projecting a long-term target of $3103. However, the Bollinger Bands indicate that current volatility levels extend up to $2788, suggesting caution near this range. The monthly resistance zone between $2750 and $2755 also poses a significant obstacle to further upside momentum.
Weekly Timeframe:
A critical support zone has formed between $2550 and $2556, underpinning the price. Should this support level be breached, there is a high probability of XAUUSD moving toward the monthly demand zone, reflecting increased selling pressure in the market.
Daily Timeframe:
Currently, price action is consolidating within the range of $2556 to $2756, signaling indecision. A breakout from this zone—whether upward or downward—will likely determine the next major trend. Observing the formation of any reversal or continuation patterns within this consolidation zone will provide further clarity on the long-term direction.
[3:10 pm, 26/11/2024] Md Golam Rabbani: without getting any strong reversal or continuation breakout confirmation it will not be wise decision to jump into the long term investment.
This analysis is for educational purposes only and does not constitute financial advice.
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