Gold 1H – Target Hit After Support Bounce

1. Uptrend & Reversal (Left side - Blue Trendline):
• The chart initially shows a strong uptrend, represented by the blue ascending trendline.
• Price peaked near the brown resistance zone (around 3437).
• A bearish reversal occurred after touching that resistance.
2. Downtrend Initiated (Right side - Blue Downward Trendline):
• A descending trendline marks a consistent downtrend following the peak.
• The price made lower highs and lower lows, confirming the bearish momentum.
3. Support Zone (Red Box near 3210 - 3208):
• Price reached a demand/support zone between 3217 – 3208 (red shaded box).
• This area acted as a reversal or consolidation zone, preventing further decline.
4. Target Area (Green Box and Black Arrow):
• The green box shows a recent bullish bounce from the support.
• Price bounced up and touched 3249.984—the level marked with the black arrow.
• This likely represents the short-term target, which has been achieved.
5. Resistance Area (3275 – 3277):
• Price is approaching or testing minor resistance around 3277, suggesting a possible barrier to further upside.