#XAUUSD is up to 1811
As I predicted, Gold bounced nicely from a key structure support .
Ahead is a strong confluence zone, based on a horizontal supply area and a falling trend line .
The reaction of the price to that structure will determine the future direction of gold .
Its bullish breakout will trigger a bullish continuation at least to 1787.
Ahead is a strong confluence zone, based on a horizontal supply area and a falling trend line .
The reaction of the price to that structure will determine the future direction of gold .
Its bullish breakout will trigger a bullish continuation at least to 1787.
Note
GOLD has tested resistance level at 1780.Price action created a compression channel with divergence.
Notice there are tweezer top candles at the level ( bearish reversal pattern), which indicates a rejection .
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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.