Dear Traders,
Price Context:
Gold (XAUUSD) is currently trading around $3285, having broken below the mid-channel level.
Key Levels:
Support Zone (Buy Area): Marked between ~$3270–$3280 (includes 0.786 Fibonacci level at 3270).
Resistance: $3366 (previous high, strong resistance).
Trendline:
An ascending trendline intersects with the buy zone, increasing the probability of a bullish reaction.
Potential Scenarios:
Bullish Reversal: A bounce from the current buy zone could trigger a move toward $3366.
Bearish Continuation: If price breaks and closes below $3270 with strong momentum, next support would be around $3242.
RSI Indicator:
Currently near oversold territory (~38), which supports a potential bounce.
📌 Conclusion:
This is a critical zone; watch for price action signals near the trendline and 0.786 level. Reversal is possible, but further downside risk remains if $3270 fails.
Regards,
Alireza!
Price Context:
Gold (XAUUSD) is currently trading around $3285, having broken below the mid-channel level.
Key Levels:
Support Zone (Buy Area): Marked between ~$3270–$3280 (includes 0.786 Fibonacci level at 3270).
Resistance: $3366 (previous high, strong resistance).
Trendline:
An ascending trendline intersects with the buy zone, increasing the probability of a bullish reaction.
Potential Scenarios:
Bullish Reversal: A bounce from the current buy zone could trigger a move toward $3366.
Bearish Continuation: If price breaks and closes below $3270 with strong momentum, next support would be around $3242.
RSI Indicator:
Currently near oversold territory (~38), which supports a potential bounce.
📌 Conclusion:
This is a critical zone; watch for price action signals near the trendline and 0.786 level. Reversal is possible, but further downside risk remains if $3270 fails.
Regards,
Alireza!
Trade active
I think the 3272–3278 zone will be reached today.
💰MY FREE FOREX CRYPTO SIGNALS TELEGRAM CHANNEL: : t.me/Alirezaktrade
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.
💰MY FREE FOREX CRYPTO SIGNALS TELEGRAM CHANNEL: : t.me/Alirezaktrade
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.