Price Structure: Gold has been forming a series of higher highs and higher lows, indicative of a general uptrend. The chart labels a "high" and a "higher high," confirming this bullish structure.
Support and Resistance:
Two key support areas are identified:
Support area S1: A narrow zone around 3,320 USD. The price recently bounced off this area.
Support area S2: A broader, more significant zone around 3,290 USD, which appears to have been a strong support level in the past.
Several horizontal resistance levels are marked:
Immediate resistance: Around 3,351.231 USD and 3,366.029 USD.
Higher resistance: At 3,408.819 USD and 3,438.677 USD.
Channels and Trendlines:
The price has been moving within a series of ascending channels (highlighted in green rectangles), suggesting a stair-step upward movement.
A primary ascending trendline (black line) serves as a long-term support, with the price currently hovering just above it.
Recent Price Action and Projections:
The price recently broke out of a small downtrend and is showing signs of recovery from the "support area S1."
A potential price path is drawn with a red arrow, indicating a possible move towards the immediate resistance levels around 3,351 USD and 3,366 USD.
The chart highlights two specific price points, 3,360.604 USD and 3,350.685 USD, which likely represent a short-term trading range or target.
Volume: The volume spikes visible at key price points (e.g., at the low on July 30 and during the recent drop) indicate strong market activity.
Support and Resistance:
Two key support areas are identified:
Support area S1: A narrow zone around 3,320 USD. The price recently bounced off this area.
Support area S2: A broader, more significant zone around 3,290 USD, which appears to have been a strong support level in the past.
Several horizontal resistance levels are marked:
Immediate resistance: Around 3,351.231 USD and 3,366.029 USD.
Higher resistance: At 3,408.819 USD and 3,438.677 USD.
Channels and Trendlines:
The price has been moving within a series of ascending channels (highlighted in green rectangles), suggesting a stair-step upward movement.
A primary ascending trendline (black line) serves as a long-term support, with the price currently hovering just above it.
Recent Price Action and Projections:
The price recently broke out of a small downtrend and is showing signs of recovery from the "support area S1."
A potential price path is drawn with a red arrow, indicating a possible move towards the immediate resistance levels around 3,351 USD and 3,366 USD.
The chart highlights two specific price points, 3,360.604 USD and 3,350.685 USD, which likely represent a short-term trading range or target.
Volume: The volume spikes visible at key price points (e.g., at the low on July 30 and during the recent drop) indicate strong market activity.
Trade closed: target reached
all target achived
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Daily 300+pips profits
weekly 2000+pips profit
High accuracy signals with double conformation
t.me/Pips_and_profits1
t.me/Pips_and_profits1
Daily 300+pips profits
weekly 2000+pips profit
High accuracy signals with double conformation
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.
join my telegram channel free
t.me/Pips_and_profits1
t.me/Pips_and_profits1
Daily 300+pips profits
weekly 2000+pips profit
High accuracy signals with double conformation
t.me/Pips_and_profits1
t.me/Pips_and_profits1
Daily 300+pips profits
weekly 2000+pips profit
High accuracy signals with double conformation
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.