Gold:Short term analysis for 13/11/2024
Disclaimer:
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 4-hour
Market Analysis:
The 4-hour XAUUSD chart exhibits a short-term bullish trend, with the RSI indicating a slight oversold condition. Price movement is confined within the trend channel, suggesting potential upside to the upper trend channel to fill the gap.
The chart indicates:
Key Levels:
Trading Bias:
Moderate bullish, the price might touch uppper channel and get rejected. The volume indicate that buyers are stepping in.
https://www.tradingview.com/x/ys2yOMoa/
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 4-hour
Market Analysis:
The 4-hour XAUUSD chart exhibits a short-term bullish trend, with the RSI indicating a slight oversold condition. Price movement is confined within the trend channel, suggesting potential upside to the upper trend channel to fill the gap.
The chart indicates:
- Bullish RSI divergence.
- Price movement within the trend channel.
- Confluence of resistance and daily point of control at 2656-2628.
- Supply zone (OBV) near resistance.
- Possibility of zig-zag movement within the channel.
Key Levels:
- Resistance (Point of Control): 2656-2628
- support(weekly point of control): 2580.00
- OBV (Lower Target): 2580-25431
Trading Bias:
Moderate bullish, the price might touch uppper channel and get rejected. The volume indicate that buyers are stepping in.
https://www.tradingview.com/x/ys2yOMoa/
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