📈 Technical Analysis Summary:
1. Chart Pattern:
A potential ascending triangle is forming.
Resistance near $3,445–\$3,446(horizontal zone).
Higher lows forming (uptrend support line).
You’ve drawn a bullish breakout projection* to around $3,468.
2. Key Levels:
🔺 Resistance Zone:$3,445
🔻 Support/Trendline: Rising from current price, starting around $3,427
🔺 Final Target Zone (TP): $3,468.27
⚠️ Minor resistance: \$3,438.88 (acting as a short-term level)
3. Volume:
Relatively low volume at the current candle, but spikes in previous bullish pushes suggest buyers are active.
Geopolitical Impact: Middle East Crisis
Current Escalation: Israel–Iran
Israel's extensive airstrikes on Iranian nuclear & military installations have significantly increased global tensions
Iran retaliated with missiles/drones, and regional airspace has been disrupted, raising fears of broader conflict
.
Safe-Haven Surge
Gold climbed as much as 1.7%, hitting new record highs around $3,452–$3,456
Demand has accelerated to the point where gold is now overtaking U.S. Treasuries and dollars as investors’ top “risk-free” asset
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Trading Signal – Bullish Setup
🔹 Buy Entry (Long):
Above $3,446 (on strong candle close and breakout confirmation)
🎯Take Profit (TP):
TP1: \$3,455
TP2: \$3,468
TP3: \$3,500
Stop Loss (SL):
Below \$3,435 (or slightly under the trendline, depending on risk appetite)
Risk–Reward Ratio: Minimum 1:2 if entering near \$3,446 and targeting \$3,468 with SL below \$3,435.
🚨 Alternative Scenario – Fakeout Risk:
If price breaks above \$3,446 but fails to hold, watch for a rejection candle and potential retracement back to the trendline near $3,428–\$3,432. That could offer a second buy opportunity at a discount, still targeting the \$3,455–\$3,468 range.
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.
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.