Gold (XAU/USD) 4-Hour Chart Analysis – May 6, 2025
This 4-hour candlestick chart of Gold (CFDs on Gold, USD/OZ) highlights key technical levels and recent price action:
Support Level: The support zone around $3,200 provided a strong base where price consolidated and reversed upwards. This level had previously acted as a demand zone, halting the bearish trend.
Resistance Level: The chart identifies a significant resistance zone around $3,450. This level previously rejected upward moves and is considered a major obstacle for bulls.
Current Price Action: As of this chart, Gold is trading at $3,358.602, showing a bullish gain of +0.67%. The price recently broke through a minor consolidation zone near $3,250 and surged strongly toward the target zone near resistance.
Target Projection: A bullish target near the resistance level has been marked. The chart suggests that buyers are aiming for this upper zone, and the upward momentum supports this outlook.
Trend Observation: The recent price surge shows a strong bullish trend with consecutive bullish candles, indicating robust buying pressure.
This setup suggests that traders may look for a potential pullback or consolidation before a continuation to the resistance target, or watch for rejection signals if price fails to break the resistance.
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This 4-hour candlestick chart of Gold (CFDs on Gold, USD/OZ) highlights key technical levels and recent price action:
Support Level: The support zone around $3,200 provided a strong base where price consolidated and reversed upwards. This level had previously acted as a demand zone, halting the bearish trend.
Resistance Level: The chart identifies a significant resistance zone around $3,450. This level previously rejected upward moves and is considered a major obstacle for bulls.
Current Price Action: As of this chart, Gold is trading at $3,358.602, showing a bullish gain of +0.67%. The price recently broke through a minor consolidation zone near $3,250 and surged strongly toward the target zone near resistance.
Target Projection: A bullish target near the resistance level has been marked. The chart suggests that buyers are aiming for this upper zone, and the upward momentum supports this outlook.
Trend Observation: The recent price surge shows a strong bullish trend with consecutive bullish candles, indicating robust buying pressure.
This setup suggests that traders may look for a potential pullback or consolidation before a continuation to the resistance target, or watch for rejection signals if price fails to break the resistance.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.