The chart shows the 30-minute timeframe of XAU/USD (Gold Spot vs. U.S. Dollar) with a clear Smart Money Concepts (SMC) analysis using LuxAlgo indicators. The market recently experienced a sharp drop after hitting a resistance zone marked by an order block and a weak high near the 3,976 level. Currently, the price is retracing after tapping into a strong demand zone around 3,947–3,950, suggesting potential bullish interest. The projected blue line indicates a possible bullish move after a short-term retracement, aiming for a return to the previous high. The RSI at around 43 signals neutral momentum, supporting the possibility of either consolidation or a reversal from this key support area.
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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.