📈 GOLD (XAU/USD) Technical Snapshot
The chart illustrates a strong bullish trend that initiated around November 9th. Following this powerful upward move, the price entered a consolidation or pullback phase.
Current Price: Approximately 4,235.506.
Key Support Levels:
SUPPORT 2: Around 4,185 (The most recent significant support).
RBS (Resistance-Broken-as-Support): Around 4,140 (A previous resistance level now expected to act as support).
SUPPORT: Around 4,100.
Outlook: The analysis anticipates a further move up, likely following a slight pullback toward SUPPORT 2.
Target The immediate long-term price target is set at 4,300.
This suggests traders are looking for an entry near SUPPORT 2 to ride the continuation of the strong bullish momentum towards the 4,300 target.
The chart illustrates a strong bullish trend that initiated around November 9th. Following this powerful upward move, the price entered a consolidation or pullback phase.
Current Price: Approximately 4,235.506.
Key Support Levels:
SUPPORT 2: Around 4,185 (The most recent significant support).
RBS (Resistance-Broken-as-Support): Around 4,140 (A previous resistance level now expected to act as support).
SUPPORT: Around 4,100.
Outlook: The analysis anticipates a further move up, likely following a slight pullback toward SUPPORT 2.
Target The immediate long-term price target is set at 4,300.
This suggests traders are looking for an entry near SUPPORT 2 to ride the continuation of the strong bullish momentum towards the 4,300 target.
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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.
📊 Full-Time Trader | TradingView Contributor
I share high-quality setups, breakdowns & learning resources.
Join my Telegram community for signals + mentorship.
t.me/+TVeqvp1L0WgyNjY0
BEST FOREX BROKER👇👇
vigco.co/la-com/HD0FxU8G
I share high-quality setups, breakdowns & learning resources.
Join my Telegram community for signals + mentorship.
t.me/+TVeqvp1L0WgyNjY0
BEST FOREX BROKER👇👇
vigco.co/la-com/HD0FxU8G
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.