Disclaimer:
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 4-hour
Market Analysis:
Following on previous analysis, the XAUUSD pair has bounced off the key support level at 2,550.00-2,543. However, the 4-hour chart indicates persistent bearish momentum, with price action confined within a descending trend channel. The price has almost reached value area high. This may act as resistance.
Key Observations:
Key Levels:
Trading Bias:
Bearish, lack of bullish divergence and no impulsive momentum, If the price slips below the point of control, the bullish narrative would be compromised, potentially triggering a reversal, anticipate a potential breakdown below the support level, targeting first weekly point of control at 2,502.00 then lower OBV at 2,485.00 - 2,505.00.
https://www.tradingview.com/x/HvUzvVAF/
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 4-hour
Market Analysis:
Following on previous analysis, the XAUUSD pair has bounced off the key support level at 2,550.00-2,543. However, the 4-hour chart indicates persistent bearish momentum, with price action confined within a descending trend channel. The price has almost reached value area high. This may act as resistance.
Key Observations:
- No bullish divergence detected on the 4-hour chart.
- Bearish divergence evident on the 30-minute chart.
Key Levels:
- Resistance : 2,606.00
- support : 2,536.00
- support(Poc): 2568.00
- lower target: 2485.00 - 2505.00
Trading Bias:
Bearish, lack of bullish divergence and no impulsive momentum, If the price slips below the point of control, the bullish narrative would be compromised, potentially triggering a reversal, anticipate a potential breakdown below the support level, targeting first weekly point of control at 2,502.00 then lower OBV at 2,485.00 - 2,505.00.
https://www.tradingview.com/x/HvUzvVAF/
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.