Technical Analysis: Gold Spot (XAU/USD) 1-Hour Timeframe --- Support & Resistance Zones
2,796.- 2,800.00: Current consolidation upper boundary (BUY level). A breakout here could target 2,820.00 followed by 2,840.00 (swing high).
2,820.00 - 2,840.00: Major resistance zone. A break above 2,840 confirms bullish momentum.
Immediate Support: : 2800:2796 A drop below 2,780 may trigger a slide toward 2,760.00 and 2,740.00* (swing low). - 2,740.00: Critical support; breach here signals bearish dominance.
--- Liquidity Zones
- **Above 2,840.00**: Likely liquidity pool where stop losses from short positions cluster. A rally to this zone could trigger a short squeeze.
- **Below 2,740.00**: Liquidity zone with stops from bullish traders. A breakdown here may accelerate selling.
- **Buy-Side Order Block (2,780.00 - 2,800.00)**: If price rebounds from this zone, it reflects institutional buying interest. Hold above 2,780.00 strengthens bullish bias.
- **Sell-Side Order Block (2,820.00 - 2,840.00)**: A rejection here suggests heavy selling pressure. Watch for bearish reversals if price fails to close above 2,840.
- **Short-Term Trend**: Neutral with slight bullish bias (price up 0.18%). Consolidation between 2,780–2,820 hints at indecision.
- **Bullish Scenario**: Break and hold above 2,820.00 opens path to 2,840.00+.
- **Bearish Scenario**: Failure to hold 2,780.00 may trigger a drop toward 2,740.00.
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**Follow for updates as price approaches critical thresholds.** 🚀📉 *Disclaimer: This analysis is for educational purposes. Trade with risk management.*