XAUUSD - Daily and Hourly Gold Resistance to watch
Gold broke out of the pink somewhat diamond to reach near the bottom of the hourly channel. Then broke thru the 1215 prior low. Areas I'm watching for possible retest are:
1215 - Previous low we broke
1220 - .618 of Friday's drop
Then expecting a continuation towards 1195 at next major resistance/support and bottom of channel followed by a correction before continuing down (which is more clear the current trend).
Further support at:
1195 - Channel Bottom and prior low
1170 - Large Trendline
1215 - Previous low we broke
1220 - .618 of Friday's drop
Then expecting a continuation towards 1195 at next major resistance/support and bottom of channel followed by a correction before continuing down (which is more clear the current trend).
Further support at:
1195 - Channel Bottom and prior low
1170 - Large Trendline
Komen:
Komen:
Bounced off of top of downward channel... Let's see if it continues to hold.
