Gold (XAU/USD) Analysis: Potential Breakout Above $2,820
This chart is a 1-hour timeframe
1. Price Action & Structure
The price is currently around $2,815.118.
There is a strong support zone around $2,780 - $2,790 (marked in purple).
The chart shows a sharp drop followed by a strong recovery, forming a W pattern (double bottom), which is a bullish reversal signal.
The price has retested a resistance zone around $2,815 - $2,820 multiple times.
2. Technical Indicators
Moving Averages:
The price is above the moving averages (blue & green lines), suggesting a bullish trend.
Bollinger Bands:
The price is near the upper band, indicating strong bullish momentum but potential resistance.
3. Prediction & Possible Move
The red arrow suggests an expected breakout above the resistance zone ($2,815 - $2,820).
If it breaks and holds above this level, the next potential target could be $2,830 or higher.
If rejection happens, a retracement to $2,800 - $2,805 could occur before another push.
Conclusion
Bullish Bias: The chart suggests a possible breakout, but confirmation is needed.
Watch the $2,820 level: If it breaks and holds, the price could rally
1. Price Action & Structure
The price is currently around $2,815.118.
There is a strong support zone around $2,780 - $2,790 (marked in purple).
The chart shows a sharp drop followed by a strong recovery, forming a W pattern (double bottom), which is a bullish reversal signal.
The price has retested a resistance zone around $2,815 - $2,820 multiple times.
2. Technical Indicators
Moving Averages:
The price is above the moving averages (blue & green lines), suggesting a bullish trend.
Bollinger Bands:
The price is near the upper band, indicating strong bullish momentum but potential resistance.
3. Prediction & Possible Move
The red arrow suggests an expected breakout above the resistance zone ($2,815 - $2,820).
If it breaks and holds above this level, the next potential target could be $2,830 or higher.
If rejection happens, a retracement to $2,800 - $2,805 could occur before another push.
Conclusion
Bullish Bias: The chart suggests a possible breakout, but confirmation is needed.
Watch the $2,820 level: If it breaks and holds, the price could rally
أغلقت الصفقة: تم الوصول للهدف
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This is why we trust the process, respect market structure, and execute with confidence.
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