Gold Will be Bullish Again
Updated
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Date 13/Jan/2025
Gold current Price 2689
in My analysis of XAU/USD (Gold Spot vs. USD) on the 4-hour timeframe. The price is moving within an ascending channel with clear trendline With support and resistance levels.
Breakout Analysis:
The price has recently broken out of the ascending channel, indicating potential bullish momentum.
Key Levels:
Resistance near 2720,
Which aligns with the take-profit level.
Local Support Around 2674, As the stop-loss level to manage downside risk.
Strong Support in the lower zone, providing a safety net for bearish reversals.
Trend Direction: The upward trajectory reflects sustained bullish interest, supported by the ascending channel and breakout.
My Suggestion is Set 2720 As Take Profit while maintaining risk management At Stop-loss at 2674.
Date 13/Jan/2025
Gold current Price 2689
in My analysis of XAU/USD (Gold Spot vs. USD) on the 4-hour timeframe. The price is moving within an ascending channel with clear trendline With support and resistance levels.
Breakout Analysis:
The price has recently broken out of the ascending channel, indicating potential bullish momentum.
Key Levels:
Resistance near 2720,
Which aligns with the take-profit level.
Local Support Around 2674, As the stop-loss level to manage downside risk.
Strong Support in the lower zone, providing a safety net for bearish reversals.
Trend Direction: The upward trajectory reflects sustained bullish interest, supported by the ascending channel and breakout.
My Suggestion is Set 2720 As Take Profit while maintaining risk management At Stop-loss at 2674.
Trade active
place Buy Orders At 2685/ 2680 Set Stop Loss At 2665 / Take Profit At 2700/2715
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