This Gold (XAU/USD) 1-hour chart shows price action trending within a descending channel, reflecting short-term bearish momentum. Sellers continue to push the market lower from the upper trendline resistance near $3,350 – $3,360, which aligns with a key supply zone (highlighted in yellow).
The projected path suggests continued downside pressure, with price expected to break beneath the mid-channel support and potentially test lower zones:
First target near $3,320, close to minor support.
A deeper move towards $3,295, where major support is marked.
In an extended decline, gold could reach the lower highlighted zone around $3,280.
The drawn arrows indicate a bearish continuation pattern, consistent with the channel structure. As long as gold remains below the $3,350 resistance area, sellers are favored in the short term.
Disclaimer: This analysis is for educational and informational purposes only and does not constitute financial advice. Trading and investing in commodities like gold carry risks. Always conduct your own research or consult a licensed financial advisor before making trading decisions.
The projected path suggests continued downside pressure, with price expected to break beneath the mid-channel support and potentially test lower zones:
First target near $3,320, close to minor support.
A deeper move towards $3,295, where major support is marked.
In an extended decline, gold could reach the lower highlighted zone around $3,280.
The drawn arrows indicate a bearish continuation pattern, consistent with the channel structure. As long as gold remains below the $3,350 resistance area, sellers are favored in the short term.
Disclaimer: This analysis is for educational and informational purposes only and does not constitute financial advice. Trading and investing in commodities like gold carry risks. Always conduct your own research or consult a licensed financial advisor before making trading decisions.
Penafian
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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.