"Gold (XAU/USD) Approaching Key Resistance: Awaiting Bearish Rev
Based on the chart:
- **Trend Analysis**: Gold is trading within an upward channel, indicating a bullish trend in the medium term.
- **Current Price Action**: The price is nearing the channel's upper boundary, which may act as resistance. A potential rejection could lead to a correction toward the channel's lower boundary.
- **Key Levels**:
- Resistance: Around 2,760–2,765.
- Support: The lower boundary of the channel is near 2,730.
- **Bearish Scenario**: A confirmation of bearish reversal (e.g., bearish candlestick patterns or a lower high) could signal a move toward the midline or lower boundary of the channel. A break below 2,750 would strengthen the bearish case.
- **Bullish Continuation**: If the price breaks above the upper channel resistance, further bullish momentum might drive it toward higher levels.
It is advised to wait for a clear **bearish confirmation** at resistance before shorting to align with the channel's trend dynamics.
- **Trend Analysis**: Gold is trading within an upward channel, indicating a bullish trend in the medium term.
- **Current Price Action**: The price is nearing the channel's upper boundary, which may act as resistance. A potential rejection could lead to a correction toward the channel's lower boundary.
- **Key Levels**:
- Resistance: Around 2,760–2,765.
- Support: The lower boundary of the channel is near 2,730.
- **Bearish Scenario**: A confirmation of bearish reversal (e.g., bearish candlestick patterns or a lower high) could signal a move toward the midline or lower boundary of the channel. A break below 2,750 would strengthen the bearish case.
- **Bullish Continuation**: If the price breaks above the upper channel resistance, further bullish momentum might drive it toward higher levels.
It is advised to wait for a clear **bearish confirmation** at resistance before shorting to align with the channel's trend dynamics.
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If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
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.