Technical Analysis of Gold Spot (XAU/USD) - 1H Chart

2 дек.

The chart illustrates Gold's price consolidating around a critical support zone after a prior rejection from the resistance level at $2,660. Below is the detailed analysis for bullish and bearish scenarios, along with potential entry and exit points.

Key Observations
Trend Overview:

Gold is trading within a sideways consolidation phase, following a significant rejection from $2,660 and currently holding above the key $2,619–$2,622 support zone.
A liquidity void (price inefficiency) is visible at $2,655–$2,660, suggesting potential resistance in this area.
Support Levels:

$2,619–$2,622: Immediate support zone; price is consolidating above this level.
$2,602–$2,605: Next strong support level.
$2,552–$2,560: Major demand zone from which a strong bounce occurred earlier.
Resistance Levels:

$2,655–$2,660: First key resistance and liquidity void zone; price previously rejected here.
$2,677–$2,680: Secondary resistance zone.
$2,711–$2,740: Major resistance area, marking extended bullish targets.
Volume Analysis:

Sell Volume (120.3K): Indicates significant selling pressure near the resistance zone, highlighting bearish sentiment.
Buy Volume (2.519M): Current support is holding due to active buying interest near $2,619.
NY Midnight Open:

The NY Midnight Open at $2,629.28 serves as a pivot point, with price oscillating around this level.
Bullish Scenario
Conditions for a Bullish Move:

Price must hold above the $2,619–$2,622 support zone and break above $2,640 (near-term resistance).
Sustained momentum above $2,655 would confirm a bullish breakout toward higher levels.
Entry Points:

Aggressive Entry: Buy near the $2,619–$2,622 support zone, with a stop-loss below $2,610.
Conservative Entry: Enter on a confirmed breakout and retest above $2,655, targeting higher resistance levels.
Exit Points (Take Profit):

First Target: $2,655–$2,660 (liquidity void resistance zone).
Second Target: $2,677–$2,680 (key resistance).
Final Target: $2,711–$2,740 (major resistance zone).
Invalidation:

A breakdown below $2,610 would invalidate the bullish setup.
Bearish Scenario
Conditions for a Bearish Move:

Price fails to break above $2,640 or $2,655, signaling continued selling pressure.
A confirmed breakdown below $2,619 would suggest further downside.
Entry Points:

Aggressive Entry: Short near $2,640–$2,655 if price shows rejection, with a stop-loss above $2,665.
Conservative Entry: Enter short after a confirmed breakdown below $2,619, targeting lower support levels.
Exit Points (Take Profit):

First Target: $2,602–$2,605 (next support level).
Second Target: $2,560 (key demand zone).
Final Target: $2,552 (major support and extended bearish target).
Invalidation:

A breakout above $2,665 would invalidate the bearish thesis and signal a potential reversal.
Key Indicators to Monitor
Volume Activity:

Watch for increased buy volume near $2,619, indicating strong demand.
Sustained sell volume near $2,640–$2,655 would reinforce bearish sentiment.
Breakout Levels:

A breakout above $2,655 could trigger bullish momentum, while a breakdown below $2,619 confirms bearish continuation.
Liquidity Zones:

The liquidity void near $2,655 is critical; price action in this area will reveal market direction.
Summary of Probable Entry & Exit Points
Scenario Entry Zone Stop-Loss Target Levels
Bullish $2,619–$2,622 (Aggressive) or above $2,655 (Conservative) $2,610 $2,655, $2,680, $2,740
Bearish $2,640–$2,655 (Aggressive) or below $2,619 (Conservative) $2,665 $2,605, $2,560, $2,552
Conclusion
Bullish Outlook: If price holds above $2,619 and breaks through $2,655, expect a rally toward $2,680 or even $2,740.
Bearish Outlook: Rejection at $2,655 or a breakdown below $2,619 may lead to declines toward $2,605 or lower.
Traders should monitor the price action closely around the support at $2,619 and resistance at $2,655, using volume as confirmation for the next move.