XAUUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVIE POSSIBLE CHEAIN

This chart represents a technical analysis of Gold (XAU/USD) on a 1-hour timeframe. Here’s what it suggests:

1. Support and Resistance Zones:

The blue and green highlighted areas represent key resistance and support zones.

The price is currently around $2,896, with a support zone near $2,893 - $2,888.

The main resistance levels are $2,921 and $2,936.



2. Projected Price Movement:

The black arrow and zigzag pattern suggest an expected bullish movement.

It indicates that the price may first test the support area ($2,893 - $2,888) before bouncing higher toward $2,921 - $2,936.



3. Auto Pitchfork Tool:

The pitchfork tool suggests a potential trend channel, likely indicating areas where price could react.




Trading Implication:

If the price holds above $2,893, buyers may step in, pushing it towards $2,921 - $2,936.

If the support fails, the price could decline further.


Would you like a more detailed trading strategy based on this?