Gold (XAU/USD) Technical Analysis – 15-Minute Chart
Gold has reached a key supply zone around $2,920, where selling pressure may increase. The price has shown a strong recovery from recent lows and is now testing this resistance area. A rejection from this zone could trigger a pullback towards the target area near $2,901-$2,900, aligning with previous support.
However, a breakout above $2,925 with strong momentum could invalidate the supply zone and open the door for further upside. Traders should watch price action for confirmation before taking positions.
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Gold has reached a key supply zone around $2,920, where selling pressure may increase. The price has shown a strong recovery from recent lows and is now testing this resistance area. A rejection from this zone could trigger a pullback towards the target area near $2,901-$2,900, aligning with previous support.
However, a breakout above $2,925 with strong momentum could invalidate the supply zone and open the door for further upside. Traders should watch price action for confirmation before taking positions.
If you enjoy, press the like button.
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