Bullish Reversal Forming at Key Support Zone – Targeting 3,450

Instrument: Unspecified (likely XAU/USD or an index, judging by the price range)

Current Price: ~3,250.100

Indicators Used:

EMA 50 (Red): 3,284.255

EMA 200 (Blue): 3,287.152

🟣 Key Zones:
Support Zone: Around 3,200 – a strong demand zone where price previously bounced.

Target Zone: Around 3,450 – the last major resistance and recent high.

📉 Current Price Action:
Price recently tested the support zone and is forming a potential double bottom pattern.

EMAs are above the price, indicating a short-term bearish trend, but the price holding support may suggest a possible reversal.

A bullish trajectory is drawn, projecting a potential rise toward the target zone at 3,450.

📈 Potential Trade Idea (Hypothetical):
Entry: Near current price or on pullback to the small support box (~3,240)

Stop-loss: Below the major support (~3,190)

Take-profit: Around 3,450

⚠️ Key Considerations:
Price needs to break above the EMAs to confirm momentum shift.

Watch for confirmation with bullish candlesticks or volume spike.

Failure to hold the 3,200 support could invalidate this setup.