GOLD | BULLISH MOVEMENT & KEY NEWS AHEAD Will the Rally Continue
Gold at Critical Support – Will Bulls Hold or Breakdown?
Chart Analysis & Trade Setup:
This XAU/USD (Gold/US Dollar) 4H Chart highlights Gold trading within a well-defined rising channel, approaching a key support zone that could determine the next big move.
Technical Breakdown:
📌 Rising Channel Formation – Gold remains within an upward sloping channel, indicating an overall bullish trend.
📌 Support Zone Retest – Price is testing a major support zone at the lower boundary of the channel, where bulls need to hold to maintain upward momentum.
📌 Two Possible Scenarios:
Bullish Scenario (Black Arrows): A bounce from support could lead Gold to retest the 2,935 - 2,955 ATH (All-Time High) resistance zone.
Bearish Breakdown (Red Arrows): If support fails, we may see a drop toward 2,809 USD, with extended targets at 2,731 & 2,699 USD.
📌 Key Demand Zone Below – The 2,559 - 2,633 USD range is a strong demand area, where buyers could step in if a major correction occurs.
Trade Plan:
🔹 Bullish Setup:
Entry: Long at 2,880 USD on support bounce.
Stop Loss: Below 2,860 USD (support breakdown).
Take Profit: 2,935 / 2,955 USD.
🔻 Bearish Setup (Breakdown Confirmation):
Entry: Short below 2,860 USD after a confirmed break.
Stop Loss: Above 2,880 USD.
Take Profit: Scale out at 2,809 / 2,731 / 2,699 USD.
Chart Analysis & Trade Setup:
This XAU/USD (Gold/US Dollar) 4H Chart highlights Gold trading within a well-defined rising channel, approaching a key support zone that could determine the next big move.
Technical Breakdown:
📌 Rising Channel Formation – Gold remains within an upward sloping channel, indicating an overall bullish trend.
📌 Support Zone Retest – Price is testing a major support zone at the lower boundary of the channel, where bulls need to hold to maintain upward momentum.
📌 Two Possible Scenarios:
Bullish Scenario (Black Arrows): A bounce from support could lead Gold to retest the 2,935 - 2,955 ATH (All-Time High) resistance zone.
Bearish Breakdown (Red Arrows): If support fails, we may see a drop toward 2,809 USD, with extended targets at 2,731 & 2,699 USD.
📌 Key Demand Zone Below – The 2,559 - 2,633 USD range is a strong demand area, where buyers could step in if a major correction occurs.
Trade Plan:
🔹 Bullish Setup:
Entry: Long at 2,880 USD on support bounce.
Stop Loss: Below 2,860 USD (support breakdown).
Take Profit: 2,935 / 2,955 USD.
🔻 Bearish Setup (Breakdown Confirmation):
Entry: Short below 2,860 USD after a confirmed break.
Stop Loss: Above 2,880 USD.
Take Profit: Scale out at 2,809 / 2,731 / 2,699 USD.
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.