GOLD → The bulls kept the market from falling. Emphasis on 2431

9 Ogo

XAUUSD is working out the range support and realizing the potential of the pattern "symmetrical triangle" in a bullish direction. On H1-H4 the market is in a sideways range, locally we are dealing with a bullish trend.



There is no news today. Technically, a bullish market is developing. Global trend is upward, local trend is neutral with bullish prerequisites.
The price is squeezed between the resistance at 2431, which is the key resistance. A breakdown and consolidation above this zone will open a huge potential for the market.
On H1, consolidation is forming above the support at 2418, a retest and liquidity capture is possible before further growth, as the bullish potential (locally) is not exhausted yet and the upward movement can be continued, but after a small correction. The market is perfectly working the lower boundary of the range 2369 and now considers the upper boundary 2477 as a potential....

Resistance Levels: 2431
Support levels: 2418, 2407, 2402

Emphasis on these levels. Most likely MM may test the support before the subsequent rise. But the primary retest of 2431 may give a small correction before the breakout and impulse to the mentioned targets.

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!

11 Ogo

Dagangan aktif

GOLD closes the previous trading session quite promisingly. The focus is on the resistance at 2431.

Fundamentally, gold has a favorable fundamental background. The coming week has a lot of interesting and important news that may set the medium-term tone (reinforce it or even change it).
It is worth paying attention to all important news that can provide an up-to-date assessment of inflation, unemployment, employment and overall Fed policy.
The main emphasis on the decline in inflation, the Fed interest rate, as well as the crisis in the Middle East, which in general, for logical reasons, has a favorable impact on the price of metal.

Technically, coming from the chart on D1 and H1, the focus should be on the resistance 2431.5 - 2432.
The breakdown and consolidation of the price above the level will give confidence to the bulls, for which, in this case, the next target - 2470 - 2500 will open.
But, if the price starts to return to 2417 - 2410, it is worth considering a retest of 2408-2400 support before further growth to the target.

Regards R. Linda!

12 Ogo

Dagangan aktif

Gold breaks through key resistance.
We are waiting for the price to finally consolidate above the support level