The chart you provided is a 2-hour price chart for CFDs on Gold (USD/OZ), and it includes technical analysis annotations. Here’s a breakdown of the key elements:
Chart Analysis Summary
Current Price and Trend
Current price: 3,340.377 USD/oz (down 1.25%)
There has been a recent sharp upward spike, followed by a correction downward.
Support and Resistance
Resistance zone: Highlighted in purple near 3,390.224 — this appears to be a key level where price struggled to break higher.
Support zones: Around 3,315 and lower at approximately 3,285 — marked with thick blue horizontal lines.
Chart Patterns
Flag or Pennant Formation: A bullish flag pattern is suggested, with a potential breakout upward indicated by the green shaded area and arrows.
This typically forms after a sharp upward move (flagpole), followed by a consolidation in a downward channel.
Price Projection
If the bullish flag plays out, the price may break above the current downtrend and target a return to the 3,390 level or potentially higher.
Volume
Volume shows spikes during major price moves — recent surge followed by decline, aligning with the flag formation.
Events
Red and blue circular icons suggest upcoming or recent economic events or announcements, possibly impacting price volatility.
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Conclusion
Bullish Setup: The chart indicates a potential bullish continuation pattern. A breakout from the flag may see price targeting the recent high (~3,390).
Watch for Confirmation: Traders would typically look for a break above the consolidation pattern with volume confirmation before entering long.
Would you like help identifying entry/exit points or setting up a risk management plan based on this chart?
Chart Analysis Summary
Current Price and Trend
Current price: 3,340.377 USD/oz (down 1.25%)
There has been a recent sharp upward spike, followed by a correction downward.
Support and Resistance
Resistance zone: Highlighted in purple near 3,390.224 — this appears to be a key level where price struggled to break higher.
Support zones: Around 3,315 and lower at approximately 3,285 — marked with thick blue horizontal lines.
Chart Patterns
Flag or Pennant Formation: A bullish flag pattern is suggested, with a potential breakout upward indicated by the green shaded area and arrows.
This typically forms after a sharp upward move (flagpole), followed by a consolidation in a downward channel.
Price Projection
If the bullish flag plays out, the price may break above the current downtrend and target a return to the 3,390 level or potentially higher.
Volume
Volume shows spikes during major price moves — recent surge followed by decline, aligning with the flag formation.
Events
Red and blue circular icons suggest upcoming or recent economic events or announcements, possibly impacting price volatility.
---
Conclusion
Bullish Setup: The chart indicates a potential bullish continuation pattern. A breakout from the flag may see price targeting the recent high (~3,390).
Watch for Confirmation: Traders would typically look for a break above the consolidation pattern with volume confirmation before entering long.
Would you like help identifying entry/exit points or setting up a risk management plan based on this chart?
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.