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Current Market Overview
Gold has recently experienced a notable upward trend, breaking through key resistance levels and forming higher highs and higher lows. As observed on the daily chart, gold has broken out of a consolidation phase, signaling potential further upside momentum.

Technical Analysis
Daily Chart:


Breakout and Retest: The daily chart shows gold breaking out of a significant consolidation zone. The price action indicates a strong bullish momentum, with a possible retest of the breakout zone around $2,450 before continuing higher.
Key Levels: Immediate support is identified at the previous resistance level around $2,450. A break below this level could lead to further downside towards $2,420. The next resistance is around $2,500 and $2,520.
4-Hour Chart:


Ascending Channel: Gold is trading within an ascending channel, and it is currently approaching the lower boundary of the channel, which could act as a support level.
Potential Pullback Zone: The 4-hour chart suggests a potential pullback to the $2,440-$2,450 zone, which aligns with the lower boundary of the ascending channel. This zone is a crucial buying opportunity if the price action shows bullish signals.
1-Hour Chart:


Immediate Support and Resistance: The 1-hour chart highlights immediate support at $2,460. If this level holds, we could see a bounce back towards $2,480 and potentially $2,500.
Bullish Momentum: The price action indicates bullish momentum with higher highs and higher lows. Monitoring the reaction at the $2,460 support level will be crucial for short-term trading decisions.
ความคิดเห็น
Signal 1: Buy Position

Entry Point: $2,460
Stop Loss: $2,440
Take Profit: $2,500
Status: Active
Trade Type: Buy
Rationale: The price is currently in an ascending channel with strong bullish momentum. Entering at the support level of $2,460 provides a good risk-reward ratio, targeting the next resistance at $2,500.
Signal 2: Buy Position

Entry Point: $2,450
Stop Loss: $2,430
Take Profit: $2,480
Status: Pending
Trade Type: Buy
Rationale: A potential pullback to $2,450, which is the lower boundary of the ascending channel on the 4-hour chart, offers an excellent buying opportunity with a tight stop loss.
Beyond Technical AnalysisChart PatternsTrend Analysis

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