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

6 gru 2024

The chart shows a sideways consolidation phase, with key levels of liquidity, support, and resistance shaping the next potential moves. The price is currently near $2,638, testing intermediate resistance after a bounce from support.

Key Observations
Consolidation Range:

Price is consolidating between $2,620–$2,665, indicating indecision in the market.
A liquidity void is observed near $2,660, where prior selling pressure dominated.
Support Levels:

$2,620–$2,622: Key short-term support zone, aligned with recent buy-side interest and the NY Midnight Open ($2,644).
$2,602–$2,605: Strong demand zone where buyers previously stepped in aggressively.
$2,555–$2,560: Major support area, representing extended downside targets if selling pressure persists.
Resistance Levels:

$2,662–$2,665: Immediate resistance zone, with previous rejection and sell orders dominating this level.
$2,711–$2,720: Major resistance zone, marking breakout targets if bullish momentum sustains.
$2,740–$2,760: Extended resistance zone, a potential final bullish target.
Volume Analysis:

Buy Volume (2.36M) vs. Sell Volume (1.95M): Indicates strong buying interest, but sellers remain active near resistance zones.
Delta Volume (189.77%): Signals that sell orders are still pressuring price around resistance areas.
Bullish Scenario
Conditions for a Bullish Move:

Price must hold above the $2,620–$2,622 support zone and break through $2,665.
Sustained buying pressure above the liquidity void at $2,660 would confirm bullish momentum.
Entry Points:

Aggressive Entry: Buy near the $2,620–$2,622 support zone, with a stop-loss below $2,610.
Conservative Entry: Enter on a confirmed breakout and retest above $2,665, with a stop-loss below $2,650.
Exit Points (Take Profit):

First Target: $2,711 (key resistance zone).
Second Target: $2,720–$2,740 (extended bullish target).
Final Target: $2,758–$2,760 (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 $2,665, indicating rejection near resistance.
A confirmed breakdown below $2,620 would open the path for further downside.
Entry Points:

Aggressive Entry: Short near $2,662, with a stop-loss above $2,670.
Conservative Entry: Enter short after a confirmed breakdown below $2,620, with a stop-loss above $2,630.
Exit Points (Take Profit):

First Target: $2,605 (key support zone).
Second Target: $2,560 (major demand zone).
Final Target: $2,552–$2,555 (extended bearish target).
Invalidation:

A breakout above $2,670 would invalidate the bearish scenario.
Key Indicators to Monitor
Breakout Confirmation:

A breakout above $2,665 or a breakdown below $2,620 will confirm the next significant move.
Volume Dynamics:

Increasing buy volume near support zones ($2,620) will favor the bullish scenario.
Rising sell volume near resistance zones ($2,665) will confirm bearish rejection.
Liquidity Zones:

The liquidity void near $2,660–$2,665 is critical; price action here will reveal whether buyers or sellers dominate.
Summary of Probable Entry & Exit Points
Scenario Entry Zone Stop-Loss Target Levels
Bullish $2,620–$2,622 (Aggressive) or above $2,665 (Conservative) $2,610 $2,711, $2,740, $2,760
Bearish $2,662 (Aggressive) or below $2,620 (Conservative) $2,670 $2,605, $2,560, $2,555
Conclusion
Bullish Outlook: A breakout above $2,665 could trigger a rally toward $2,711 or higher.
Bearish Outlook: Rejection at $2,665 or a breakdown below $2,620 could lead to declines toward $2,605–$2,555.
Monitor the price action closely near $2,665 (resistance) and $2,620 (support) for directional confirmation. Risk management with tight stop-losses is essential in the current range-bound environment.