GOLD (XAUUSD): Key Levels to Watch This Week 🥇

26 Okt 2022

Here is my latest structure analysis for Gold.

The market is trading in a major falling parallel channel on a weekly.
The closest resistance that I see is the upper boundary of the channel.
If the price breaks that to the upside, the next resistance on focus will be 1726 - 1735 area.

The closest support is 1614 - 1624 horizontal demand zone.
If the price breaks that to the downside, the next goal for sellers will be the support of the channel.

For now, it looks like buyers will push the market to the Resistance 1.
Once it is reached, I will look for a confirmation to sell or for a breakout trade.
I will post an update, once I spot a decent setup.

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