XAUUSD is in a sideways zone. After the consolidation period ends (maybe 1 to 3 weeks) two possibilities exist..
- if it breaks resistance above 21389. It will confirm a continued UP trend
- if it break support below 2282 and confirms a head and shoulder at the top and a new downtrend would begin
- if it breaks resistance above 21389. It will confirm a continued UP trend
- if it break support below 2282 and confirms a head and shoulder at the top and a new downtrend would begin
Note
Correction:Resistance above 2389. (not 21389)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.