XAU Gold 30Min

Ichimoku Cloud
The red cloud indicates a prevailing bearish trend in the past.
Flat areas of the cloud highlight potential future resistance zones.
Key Support and Resistance Levels
Key Support (Orange Line): Around 2,649.77
Important Resistances (Yellow and Green Lines):
First Resistance: 2,655.39
Second Resistance: 2,667.41
Risk and Reward Area
The red area below the chart represents the Stop Loss zone (loss area).
The green area above indicates the Take Profit zone (profit area).
A trade has been executed with a balanced risk-to-reward ratio.
Relative Strength Index (RSI)
Current RSI value: 47.58
RSI below 50 indicates relative market weakness in the current state.
Green Arrows
The green arrow at the bottom of the chart suggests a potential bullish reversal from the key support level.



Analysis Conclusion:
The recent downtrend has tested the support level at 2,649.77.
If the price stabilizes at this level and breaks through the first resistance at 2,655.39, there is a possibility of growth towards the next resistance at 2,667.41.
The RSI needs to cross above 50 to confirm buyer strength.
Otherwise, breaking the support level may lead to further decline.