amirmoghaddam

The price has reversed from the static support zone and the lower boundary of the descending channel, forming favorable reversal candles. The target is the previous static resistance level (the upper boundary).

The price has faced an increase in demand within an appropriate time and price range, forming favorable reversal candles. If the $22 level is broken, the growth trigger will officially activate, and one could be optimistic about the price reaching the upper boundary of the descending channel, around the $47 range, in the medium term.

A downward consolidation has been broken to the upside. It seems like we should get ready for a good buying opportunity

In an established uptrend, the price has reached the lower boundary of the ascending channel. Given the shallow correction, it appears that the price is testing the support level at the channel’s bottom. In the medium term, this suggests a potential recovery, with prices likely moving back toward the previous channel high.

At the top boundary of the long-term channel, we are witnessing the formation of a head and shoulders pattern. If the neckline is broken, we expect a correction in gold.Everything is clearly shown in the image.

The price has reached three strong and valid support levels:1. Static support zone2. Lower boundary of the descending channel3. Mid-band support of the pitchforkIt seems that if any correction occurs, it will likely be more of a time correction rather than a significant price drop. I don’t anticipate any major decline for this asset.

Gold; has reached the upper boundary of its long-term ascending channel. In previous instances, we have witnessed significant declines after touching this resistance level. Now, we have to see whether the same scenario will unfold this time.

Technical AnalysisThe price has reached the lower boundary of a descending channel structure, accompanied by suitable reversal candlesticks. It appears that with the beginning of the new month, we may witness an upward movement in this chart.

The price, while in an uptrend, has reached the support level at the bottom of the ascending channel. In terms of price action, I do not anticipate any further significant correction beyond this point. From a temporal perspective, I am considering the period from April 25 to May 25—a one-month span—as the timeframe for the bottom formation. Conditions within this defined area and timeframe appear to be conducive to a solid upward rally.

The price, currently in an uptrend, has reached key support levels, including static support and ascending trendline support. Additionally, signs of bullish hidden divergence are observed in the RSI indicator. These factors suggest that the asset is likely to begin its upward movement soon.