Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Gold broke out of its long-term rising channel and hit $3390 resistance level before momentum definitively stalled.
That failure marked a shift in control, as sellers forced price into a falling channel, establishing lower highs and lower lows.
Price fell to support level, after whcih it turned around and bounced up to resistance line of falling channel.
Now, Gold tests the upper boundary of the falling channel near $3318, where each bounce has been capped by declining volume.
Key support lies in the $3250 - $3235 area, aligned with multiple prior demand tests and the former rising-channel floor.
I expect Gold to reverse from the channel resistance and slide toward $3235, decisively breaking below the $3250 level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Gold broke out of its long-term rising channel and hit $3390 resistance level before momentum definitively stalled.
That failure marked a shift in control, as sellers forced price into a falling channel, establishing lower highs and lower lows.
Price fell to support level, after whcih it turned around and bounced up to resistance line of falling channel.
Now, Gold tests the upper boundary of the falling channel near $3318, where each bounce has been capped by declining volume.
Key support lies in the $3250 - $3235 area, aligned with multiple prior demand tests and the former rising-channel floor.
I expect Gold to reverse from the channel resistance and slide toward $3235, decisively breaking below the $3250 level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.