XAUUSD

Gold Spot / U.S. Dollar, 1H Chart Analysis

📈 Trend & Support Levels:
The price of gold has been in an uptrend, following a rising trendline. Currently, the price is retesting a resistance zone near $2,758 - $2,764. If the price breaks above this zone, we may see a continuation toward higher levels.

📉 Possible Pullbacks:
If the price fails to break the resistance, a pullback toward the support levels at $2,724, $2,715, or even $2,705 is possible. These levels are highlighted with colored boxes and may act as potential demand zones.

🔍 Key Levels to Watch:

Resistance: $2,758 - $2,764
Supports: $2,724 - $2,722 | $2,715 - $2,713 | $2,705 - $2,702
Trendline: The price is currently above an ascending trendline, which could act as dynamic support.
💡 Conclusion:

A breakout above $2,764 could lead to further bullish movement.
A rejection from this resistance could result in a pullback to lower support zones before resuming an uptrend.
Traders should monitor price action around these key levels before making decisions.