🔹GOLD (XAU/USD) - Technical Analysis
▪Trend Structure
The price is moving within a well-defined ascending channel, indicating a strong bullish trend.
Price action consistently forms higher highs and higher lows, confirming upward momentum.
▪Key Support Levels
Multiple demand zones (highlighted by grey rectangles and green arrows) have acted as strong support during pullbacks.
The RBS (Resistance Becomes Support) level has held successfully near the $4,040 area, suggesting buyers are defending this zone.
▪Target Zones
▫Psychological Resistance: $4,100 – A key level where price may face initial hesitation.
▫2nd Target Area: Around $4,130 Intermediate resistance zone.
▫Final Target Zone: $4,150 Marked as the ultimate bullish target based on current momentum.
▪Projection
The chart suggests a bullish continuation with a projected move towards $4,150, contingent on maintaining support near $4,040.
Potential short-term consolidation before breakout as drawn by the projected price path.
▪Conclusion
Gold remains in a strong uptrend. As long as price sustains above the key support zones, the bullish scenario targeting $4,150 remains valid.
Support Me For More Insightful Analysis.
▪Trend Structure
The price is moving within a well-defined ascending channel, indicating a strong bullish trend.
Price action consistently forms higher highs and higher lows, confirming upward momentum.
▪Key Support Levels
Multiple demand zones (highlighted by grey rectangles and green arrows) have acted as strong support during pullbacks.
The RBS (Resistance Becomes Support) level has held successfully near the $4,040 area, suggesting buyers are defending this zone.
▪Target Zones
▫Psychological Resistance: $4,100 – A key level where price may face initial hesitation.
▫2nd Target Area: Around $4,130 Intermediate resistance zone.
▫Final Target Zone: $4,150 Marked as the ultimate bullish target based on current momentum.
▪Projection
The chart suggests a bullish continuation with a projected move towards $4,150, contingent on maintaining support near $4,040.
Potential short-term consolidation before breakout as drawn by the projected price path.
▪Conclusion
Gold remains in a strong uptrend. As long as price sustains above the key support zones, the bullish scenario targeting $4,150 remains valid.
Support Me For More Insightful Analysis.
Note
1st layer activated near 4070, minor support area Trade active
Note
1st target reached, 4100$Note
2nd target achieved, 4130, 600 pips+Trade closed: target reached
4150, achieved 800 pips+
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🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
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.