Gold Price Technical Analysis (XAU/USD)
The attached chart presents a detailed technical analysis of gold prices on the hourly timeframe. The key highlights are as follows:
1. Supply Zone Resistance:
Price is currently trading near a supply zone around $2,632.592, where a potential rejection is anticipated. This zone acts as a significant resistance level.
2. Projected Price Movement:
Based on the technical setup, a downward price movement is expected after testing the supply zone. The price may decline towards the demand/support zone near $2,590.899 or potentially lower.
3. Key Levels to Watch:
Resistance: $2,632.592 and $2,649.935
Support: $2,604.914 and $2,590.899
This analysis is based on current market behavior, and traders should remain cautious of unexpected price fluctuations. Always apply risk management strategies while trading.
1. Supply Zone Resistance:
Price is currently trading near a supply zone around $2,632.592, where a potential rejection is anticipated. This zone acts as a significant resistance level.
2. Projected Price Movement:
Based on the technical setup, a downward price movement is expected after testing the supply zone. The price may decline towards the demand/support zone near $2,590.899 or potentially lower.
3. Key Levels to Watch:
Resistance: $2,632.592 and $2,649.935
Support: $2,604.914 and $2,590.899
This analysis is based on current market behavior, and traders should remain cautious of unexpected price fluctuations. Always apply risk management strategies while trading.
"Join our official Telegram channel to receive in-depth analysis and free trading signals.👇"
t.me/Trade_with_Olivia_Grace
t.me/Trade_with_Olivia_Grace
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.