GOLD (XAUUSD):Why So Slow?! Technical Outlook 🥇
Updated
Hey traders,
That week was very boring for gold traders:
after a bullish breakout of a falling wedge pattern the price started to coil slowly.
On Friday bulls tried to approach a daily resistance cluster but were immediately rejected.
Now, from a current perspective we have a local moment of indecision on gold.
1720 - 1726 is the closest support
1780 - 1790 is the closest resistance
While the price is stuck within that range, consider its boundaries for pullback trading.
To catch the next move, wait for a breakout of one of the boundaries of the range.
That will be your trigger.
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