The chart you shared is a technical analysis of Gold (CFDs on Gold, US$/oz) on the 45-minute timeframe, as published on TradingView. Here are the key details:
Current price: $3,237.55, down 51.485 (-1.57%).
Resistance zone: around $3,370 - this level is marked with a blue line and an orange-red box indicating pre-selling pressure.
Support zones:
Intermediate support: around $3,197.41.
Lower support: around $3,124.54, shown with a green box indicating a buy zone.
Pattern analysis: The chart appears to illustrate a potential bearish setup:
A rising wedge breakdown followed by a retest.
An expected minor pullback (blue arrow path forecast) before continuing downwards.
Price Prediction:
If the $3,197 level fails to hold, bearish momentum could push the price to $3,124 or lower.
A temporary bounce or pullback is expected after hitting support before further declines.
Would you like analysis for a different timeframe or a fundamental view along with this technical one?
Current price: $3,237.55, down 51.485 (-1.57%).
Resistance zone: around $3,370 - this level is marked with a blue line and an orange-red box indicating pre-selling pressure.
Support zones:
Intermediate support: around $3,197.41.
Lower support: around $3,124.54, shown with a green box indicating a buy zone.
Pattern analysis: The chart appears to illustrate a potential bearish setup:
A rising wedge breakdown followed by a retest.
An expected minor pullback (blue arrow path forecast) before continuing downwards.
Price Prediction:
If the $3,197 level fails to hold, bearish momentum could push the price to $3,124 or lower.
A temporary bounce or pullback is expected after hitting support before further declines.
Would you like analysis for a different timeframe or a fundamental view along with this technical one?
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telegram signals t.me/+QxrfbzZuGCZhN2U0
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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.