✴️ GOLD Daily timeframe. Mar.06 - Mar.10

4 Mac 2023

The price finishes the corrective movement in the 1800 area. Gold reverses and breaks the base of the reversal pattern. Positive fundamentals are bullish on the futures price.
What to expect from XAUUSD in the coming week?

1) U.S. sector news on Friday shook the market a bit and after a two-way maneuver, the price is headed up and renews its two-week high
2) Right chart - Head & Shoulders pattern formation. Price breaks through the base and forms a momentum to 1856.39
3) Friday's candlestick closes near the high of the day. (The high of the day is 1856.39, the closing price is 1855.43). Consequently, the futures leaves the potential for a possible continuation of the growth with the opening of the session. A gap up is possible.
4) The nearest resistance area, where the price can stop, is in the area of 1860, 1880, 1900.
5) The local trend again follows the global trend. Both are bullish. The potential in the medium term is on the upside. Targets 1900, 1960