Gold

1h chart look out

38
Current Price: ~$3,332

Resistance Level: ~3,400 (marked by the horizontal white line)

Potential Upside Target: Approximately 3,421

Expected Move: +89.51 points (+2.70%)


📈 Technical Interpretation:

Price Structure: After a recent downtrend, price appears to be forming a base and starting to bounce.

Bullish Breakout Potential: The blue shaded area suggests a bullish projection. If price breaks above the resistance (around 3,400), a move toward ~3,420+ is expected.

Volume Profile Overlay (Blue/Red Bars): Suggests historical volume concentration. Price might face resistance at the high-volume area (resistance line), but a breakout would signal strength.


✅ Bullish Scenario:

Entry Zone: Around current level (3,330–3,340), ideally on a breakout above 3,340.

Target: 3,420+

Risk: Breakdown below recent lows (~3,310–3,320) would invalidate the bullish idea

Penafian

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