Gold (XAU/USD) Technical Analysis – 1H Chart 🏆📉
🔹 Overview:
The chart shows Gold (XAU/USD) in a downtrend after failing to break above resistance.
Key zones are marked: Resistance (~$2,920 - $2,960) and Support (~$2,840 - $2,860).
A potential bearish move is suggested towards the support area.
📌 Resistance Zone (~$2,920 - $2,960) 🚧
Price has struggled to break this level multiple times, leading to rejection.
Sellers are likely in control, pushing the price lower.
📌 Support Zone (~$2,840 - $2,860) 🛡️
This area has historically acted as a strong demand zone.
Possible price reaction here, with a bounce back up if buyers step in.
📉 Bearish Scenario:
A retest of minor resistance (~$2,900) before continuing downward.
If price reaches support, a reversal or further breakdown could occur.
📈 Bullish Recovery?
Only a strong breakout above $2,920 would shift momentum to bullish.
🔥 Conclusion:
Short-term bias: Bearish 📉
Key watch: Price action at support (~$2,840) for possible bounce 📊
🔹 Overview:
The chart shows Gold (XAU/USD) in a downtrend after failing to break above resistance.
Key zones are marked: Resistance (~$2,920 - $2,960) and Support (~$2,840 - $2,860).
A potential bearish move is suggested towards the support area.
📌 Resistance Zone (~$2,920 - $2,960) 🚧
Price has struggled to break this level multiple times, leading to rejection.
Sellers are likely in control, pushing the price lower.
📌 Support Zone (~$2,840 - $2,860) 🛡️
This area has historically acted as a strong demand zone.
Possible price reaction here, with a bounce back up if buyers step in.
📉 Bearish Scenario:
A retest of minor resistance (~$2,900) before continuing downward.
If price reaches support, a reversal or further breakdown could occur.
📈 Bullish Recovery?
Only a strong breakout above $2,920 would shift momentum to bullish.
🔥 Conclusion:
Short-term bias: Bearish 📉
Key watch: Price action at support (~$2,840) for possible bounce 📊
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JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
Related publications
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.