monthly chart of XAU/USD (Gold Spot) showing a long-term
This is a monthly chart of XAU/USD (Gold Spot) showing a long-term ascending channel.
Key Observations:
1. Price is near the upper boundary of the channel, around $2,874
2. Potential resistance at approximately $3,202, marked with an upward arrow.
3. Previous price action shows respect for channel boundaries**, meaning a pullback from resistance is possible.
4. Support zones** lie around $2,767–$2,861, while a major lower trendline support is near $2,099–$1,911.
Possible Scenarios:
- If momentum continues, gold may test $3,200 before seeing a correction.
- A rejection from the upper channel could trigger a retracement towards $2,767–$2,861.
- Breakout above $3,200 could signal a strong bullish continuation.
Key Observations:
1. Price is near the upper boundary of the channel, around $2,874
2. Potential resistance at approximately $3,202, marked with an upward arrow.
3. Previous price action shows respect for channel boundaries**, meaning a pullback from resistance is possible.
4. Support zones** lie around $2,767–$2,861, while a major lower trendline support is near $2,099–$1,911.
Possible Scenarios:
- If momentum continues, gold may test $3,200 before seeing a correction.
- A rejection from the upper channel could trigger a retracement towards $2,767–$2,861.
- Breakout above $3,200 could signal a strong bullish continuation.
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If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.