Hello traders! Here’s my technical outlook based on the current XAUUSD (3H) chart structure. Gold previously moved in a bullish ascending channel, forming higher highs and higher lows while respecting the rising support line. The rally eventually reached the 5,240 Seller Zone, where strong resistance triggered a sharp rejection and pushed price lower. After this drop, the market stabilized near the 5,090 Buyer Zone, where buyers prevented further decline. Since then, price has been consolidating inside a range between 5,240 resistance and 5,090 support. Currently, gold is testing the upper resistance area while also facing pressure from a descending resistance line, creating a potential rejection zone. My primary scenario remains neutral-to-bearish near resistance while the market trades below the descending resistance line and the 5,240 supply zone. If sellers defend this area once again, price could decline toward the 5,090 support level, which represents the next downside target (TP1) and aligns with the lower boundary of the current range. Please share this idea with your friends and click Boost 🚀
Trade attivo
The price of gold was gradually falling but buyers came in. I think this will be a small correction, after which the movement will resume to our target.Trade chiuso: obiettivo raggiunto
Our analysis worked perfectly for gold. As we expected, gold continued to form lower highs and squeezed closer to the support zone. Our target was achieved!
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.