This is the 15-minute chart of GOLD1!
Gold is moving in a well-defined parallel channel and currently respecting the LOP resistance zone at 109750–109850.
The channel’s lower boundary near 108650 may act as short-term support.
If Gold breaks down below this support, the projected downside target is near 107750.
In case of range-bound movement, the ideal sell zone remains at the LOP (109750–109850).
If this resistance level sustains, Gold may fall and test the lower targets.
Additionally, a Head & Shoulders pattern has formed within the channel, with its downside target aligning with the channel projection.
Thank you.
Gold is moving in a well-defined parallel channel and currently respecting the LOP resistance zone at 109750–109850.
The channel’s lower boundary near 108650 may act as short-term support.
If Gold breaks down below this support, the projected downside target is near 107750.
In case of range-bound movement, the ideal sell zone remains at the LOP (109750–109850).
If this resistance level sustains, Gold may fall and test the lower targets.
Additionally, a Head & Shoulders pattern has formed within the channel, with its downside target aligning with the channel projection.
Thank you.
@RahulSaraoge
Connect us at t.me/stridesadvisory
Connect us at t.me/stridesadvisory
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.
@RahulSaraoge
Connect us at t.me/stridesadvisory
Connect us at t.me/stridesadvisory
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.