Comprehensive Gold (XAU/USD) Analysis – Brokerir Analysis Team

Market Overview
Based on technical analysis and the provided chart, Gold (XAU/USD) is approaching two key resistance levels: 2911 and 3043. These levels are expected to act as strong resistance points, from which price could initiate a short (sell) move towards the 2790 target. This analysis is based on a combination of resistance levels, trend indicators, and price action confirmations.

Key Technical Levels
🔴 Resistance Levels (Short Entry Points):

2911 – The first resistance level where price may face rejection.
3043 – A stronger resistance zone, likely to trigger a more significant reversal if price reaches this level.
🟢 Support Target:

2790 – The expected price target for the short setup.
Technical Factors Supporting the Short Setup
1️⃣ Price Action & Market Structure
Gold is currently in an upward retracement phase, approaching key resistance levels where sellers might take control.
Bearish rejection wicks or double top formations around these levels will further confirm the short setup.
2️⃣ Fibonacci Retracement & Resistance Confluence
2911 aligns with a Fibonacci retracement level, strengthening its potential as a resistance zone.
3043 coincides with a previous swing high, acting as a strong liquidity area where sellers may step in.
3️⃣ RSI & Momentum Indicators
RSI is approaching overbought conditions, signaling a potential price reversal.
The MACD histogram is showing signs of weakening bullish momentum, suggesting a slowdown before a bearish move.
4️⃣ Volume & Order Flow Analysis
Low buying volume at resistance zones indicates a possible exhaustion of bullish momentum.
A bearish engulfing candle or strong rejection at 2911 or 3043 will confirm seller dominance.
Trade Setup & Risk Management
📌 Short Trade Setup (Target: 2790)
Entry Points: 2911 or 3043 (Wait for rejection confirmation).
Take Profit (TP): 2790 (Support target).
Stop Loss (SL):
If entering at 2911, place SL above 2930.
If entering at 3043, place SL above 3060.
Risk-Reward Ratio: 1:2 or better, depending on entry execution.
📌 Alternative Bullish Scenario
If price breaks above 3043 and sustains momentum, the bearish setup will be invalidated. In this case, a move towards 3100+ could be expected.
Conclusion & Market Outlook
📊 Brokerir's Analysis Team expects a short trade opportunity on Gold from 2911 or 3043, targeting 2790, based on technical confluences, momentum indicators, and resistance rejections.
Traders should monitor price action closely and wait for confirmation before entering.

🚀 Bearish Confirmation: Rejection at 2911 or 3043 with a bearish candlestick pattern.
📉 Bullish Risk: A breakout above 3043 would signal further upside momentum.

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