Chart Analysis:

  • Price Action:
    • The chart shows a recent downtrend in gold prices with a series of lower highs and lower lows.
    • The current price is attempting to rebound from a recent low.
  • Ripster EMA Clouds:
    • The chart uses Ripster EMA Clouds which combine multiple Exponential Moving Averages (EMAs) to visualize trends and potential reversal points.
    • The red cloud indicates a bearish trend, while the green and blue clouds indicate a bullish trend.

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  • Order Blocks & Breaker Blocks:
    • The chart highlights certain zones as potential order blocks where significant buying or selling interest has previously been noted.
    • These zones often act as support or resistance.
  • Chop Range:
    • The chop range indicates areas of consolidation or sideways movement where the market lacks a clear directional bias.

Key Support and Resistance Levels:

  • Support Levels:
    • First Support Zone: Around 2,356 – 2,360 (highlighted in the blue zone at the bottom).
      • This area has acted as a significant support where the price has bounced off recently.
    • Second Support Level: Around 2,364 (as indicated by the labels and previous price action).
  • Resistance Levels:
    • Immediate Resistance Zone: Around 2,373 – 2,380 (highlighted in the red zone at the current price).
      • This area is where the price is currently testing and encountering resistance.
    • Upper Resistance Zone: Around 2,424 (highlighted in the orange zone).
      • This level is where the price previously found resistance and reversed to the downside.


  • The price is currently trading within a resistance zone (2,373 – 2,380). If the price breaks above this zone and sustains, it could indicate a potential reversal to the upside.
  • The support zone around 2,356 – 2,360 is crucial. A break below this level might lead to further downside.
  • The Ripster EMA Clouds show a mix of bullish and bearish trends, indicating some level of consolidation or mixed market sentiment.

Trading Considerations:

  • Bullish Scenario: If the price breaks above the 2,380 resistance with strong volume, it could target the next resistance around 2,424.
  • Bearish Scenario: If the price fails to break the 2,380 resistance and falls below the 2,356 support, it could lead to further declines.

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