Chart Analysis:
Instrument: Gold Futures (1-hour timeframe)
Key Patterns Identified:
Flag & Pole Pattern: A sharp upward move (pole) followed by a consolidation (flag) indicating potential continuation.
Rounding Bottom: A gradual rounding formation indicating accumulation and potential upward movement.
Sloping Trendline Resistance: Marked as a diagonal dashed line indicating an area where price might face resistance.
Key Levels:
97,579: A horizontal resistance level that is crucial for breaking upward.
99,999: A major resistance level, with a note that closing above it could push prices to 106,000.
Gap Zone: Indicated with a query if it will be filled, implying a possible pullback before a further move.
RSI (Relative Strength Index):
Current RSI is around 53, indicating a neutral momentum.
The RSI-based moving average is around 47.43, suggesting that the price might still consolidate before a directional move.
Summary:
The chart suggests a potential bullish continuation if Gold Futures close above the 99,999 mark.
The presence of a rounding bottom supports a bullish bias, but the gap highlighted raises caution about a potential retracement.
Traders might watch for a breakout above the sloping trendline or a gap fill before positioning.
Instrument: Gold Futures (1-hour timeframe)
Key Patterns Identified:
Flag & Pole Pattern: A sharp upward move (pole) followed by a consolidation (flag) indicating potential continuation.
Rounding Bottom: A gradual rounding formation indicating accumulation and potential upward movement.
Sloping Trendline Resistance: Marked as a diagonal dashed line indicating an area where price might face resistance.
Key Levels:
97,579: A horizontal resistance level that is crucial for breaking upward.
99,999: A major resistance level, with a note that closing above it could push prices to 106,000.
Gap Zone: Indicated with a query if it will be filled, implying a possible pullback before a further move.
RSI (Relative Strength Index):
Current RSI is around 53, indicating a neutral momentum.
The RSI-based moving average is around 47.43, suggesting that the price might still consolidate before a directional move.
Summary:
The chart suggests a potential bullish continuation if Gold Futures close above the 99,999 mark.
The presence of a rounding bottom supports a bullish bias, but the gap highlighted raises caution about a potential retracement.
Traders might watch for a breakout above the sloping trendline or a gap fill before positioning.
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.
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.