GOLD (XAU/USD) 1-hour chart with Ichimoku Cloud, and my marked resistance and two target points.
Here’s the analysis based on what’s visible:
Current price: Around $4,141 (based on my chart labels).
Resistance zone: Around $4,140 – $4,150, which is where price is currently testing.
Upper target point (minor correction target): Around $4,123 – $4,125.
Lower target point (major correction target): Around $4,066 – $4,070.
📊 Interpretation:
If price fails to break resistance (4,150) and forms rejection candles, it could retrace toward:
Target 1: $4,123 (short-term support)
Target 2: $4,066 (cloud base and major support zone)
If price breaks and holds above 4,150, then the bullish trend can extend further upward, possibly toward $4,180–$4,200.
Here’s the analysis based on what’s visible:
Current price: Around $4,141 (based on my chart labels).
Resistance zone: Around $4,140 – $4,150, which is where price is currently testing.
Upper target point (minor correction target): Around $4,123 – $4,125.
Lower target point (major correction target): Around $4,066 – $4,070.
📊 Interpretation:
If price fails to break resistance (4,150) and forms rejection candles, it could retrace toward:
Target 1: $4,123 (short-term support)
Target 2: $4,066 (cloud base and major support zone)
If price breaks and holds above 4,150, then the bullish trend can extend further upward, possibly toward $4,180–$4,200.
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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.