Hello Traders! 👋
What are your thoughts on Gold?
Looking at the Gold chart, the price action clearly shows a mid-term descending channel.
Currently, after a temporary bullish correction, the price is approaching a highly confluent and critical resistance zone. This area represents the intersection of the descending channel’s upper boundary and a key static resistance level.
We expect the price to get rejected upon testing this resistance zone, completing its corrective move and initiating the next bearish wave.
First Target (TP1): 4400 area
Second Target (TP2): 4300 area (upon a successful break below TP1)
As long as price remains below the resistance zone and fails to print a higher high above the channel structure, the overall outlook remains bearish.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on Gold?
Looking at the Gold chart, the price action clearly shows a mid-term descending channel.
Currently, after a temporary bullish correction, the price is approaching a highly confluent and critical resistance zone. This area represents the intersection of the descending channel’s upper boundary and a key static resistance level.
We expect the price to get rejected upon testing this resistance zone, completing its corrective move and initiating the next bearish wave.
First Target (TP1): 4400 area
Second Target (TP2): 4300 area (upon a successful break below TP1)
As long as price remains below the resistance zone and fails to print a higher high above the channel structure, the overall outlook remains bearish.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
Ordre annulé
The price continued to decline without the expected correction.
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
telegram.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
telegram.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.