GOLD IS Forming a Short-term Upward-sloping Support Line
$XAU/USD(XAUUSD.FOREX)$$Gold - main 2608(GCmain)$
Technical Analysis:
Looking at the (H1) candlestick chart, the market as a whole is currently in a correction and consolidation phase following a period of consolidation at high levels, with buying momentum driving a rebound near key support levels in the short term.
The price is currently trading at $4,011, down slightly by about 0.15% on the day. The latest one-hour candlestick closed as a bullish candle with a long lower shadow; the price briefly dipped to around 3,982.72 before being quickly pulled back by buyers, indicating significant buying support in the range from the 4,000 psychological level to the 3,980 area.
Short-term price channel: Since the rebound from the low, the M30 lows have been gradually rising (3,965 → 3,990 → 4,008), forming a short-term upward-sloping support line.
Continue to focus on Buy positions!
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