Gold (XAU/USD) Daily Chart Analysis – April 4, 2025
1. Trend & Structure
Overall Trend: Gold has been in a strong uptrend, forming higher highs and higher lows within an ascending channel.
Current Position: Price is currently near the upper boundary of the channel, suggesting potential resistance and a possible pullback.
2. Key Support & Resistance Levels
Resistance: ~$3,120 (upper trendline of the ascending channel)
Support: ~$3,000 (mid-channel support) and ~$2,900 (lower boundary of the channel)
3. RSI Analysis
RSI (Relative Strength Index): The RSI is currently at 70.79, which is near the overbought level. This indicates that gold might be overextended and could see a short-term pullback before continuing higher.
4. Volume Analysis
There was a high volume spike recently, suggesting strong buying activity. However, if volume decreases on the next push higher, it could indicate buyer exhaustion.
5. Possible Trading Scenarios
📉 Bearish Scenario (Pullback)
If gold fails to hold above $3,100, a correction towards $3,000 or even $2,900 could be expected.
A confirmed break below the mid-channel could indicate a deeper correction.
📈 Bullish Scenario (Breakout)
If price consolidates and breaks above $3,120-$3,150, it could continue rallying toward $3,200-$3,250.
6. Trading Plan
Short-Term Trade: Look for potential shorting opportunities around $3,120 with a stop above $3,150 and targets around $3,000.
Long-Term Trade: Wait for a retracement toward $3,000-$2,900 for buying opportunities with a stop below $2,880.
1. Trend & Structure
Overall Trend: Gold has been in a strong uptrend, forming higher highs and higher lows within an ascending channel.
Current Position: Price is currently near the upper boundary of the channel, suggesting potential resistance and a possible pullback.
2. Key Support & Resistance Levels
Resistance: ~$3,120 (upper trendline of the ascending channel)
Support: ~$3,000 (mid-channel support) and ~$2,900 (lower boundary of the channel)
3. RSI Analysis
RSI (Relative Strength Index): The RSI is currently at 70.79, which is near the overbought level. This indicates that gold might be overextended and could see a short-term pullback before continuing higher.
4. Volume Analysis
There was a high volume spike recently, suggesting strong buying activity. However, if volume decreases on the next push higher, it could indicate buyer exhaustion.
5. Possible Trading Scenarios
📉 Bearish Scenario (Pullback)
If gold fails to hold above $3,100, a correction towards $3,000 or even $2,900 could be expected.
A confirmed break below the mid-channel could indicate a deeper correction.
📈 Bullish Scenario (Breakout)
If price consolidates and breaks above $3,120-$3,150, it could continue rallying toward $3,200-$3,250.
6. Trading Plan
Short-Term Trade: Look for potential shorting opportunities around $3,120 with a stop above $3,150 and targets around $3,000.
Long-Term Trade: Wait for a retracement toward $3,000-$2,900 for buying opportunities with a stop below $2,880.
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.