GOLD technical analysis.

This is a gold price (CFDs on Gold - US$/OZ) chart from TradingView, showing price action on the 1-hour timeframe.

Key Observations:

1. Current Price: Around $3,030.226


2. Key Levels:

Support Zone (~$3,010) marked with a purple rectangle.

Resistance Zone (~$3,040) marked with a purple rectangle.

Key Level at $3,025 (marked with a blue horizontal line).



3. Price Action & Prediction:

The chart suggests a potential rejection at the resistance zone (~$3,040).

A possible retest of the $3,025 level before breaking downward toward the support zone (~$3,010).

The blue zigzag lines indicate expected price movement: a brief consolidation before dropping to the lower zone.




This looks like a bearish setup, where gold might test resistance, fail to break, and decline toward support.