GOLD (XAUUSD): Important Confluence Zone! Technical Outlook ðĨ
āļāļĩāđāļāļąāļāđāļāļ:
With a very bullish Friday, Gold ( XAUUSD ) reached a peculiar zone of confluence on a daily:
we see a perfect match between a horizontal structure resistance and a rising resistance line of an expanding wedge pattern.
On Monday, I will look for a confirmation on lower time frames (4h/1h) to sell.
In case of an initiation of a bearish move, we may expect a pullback to the support line of an expanding wedge .
Alternatively, a bullish breakout of the underlined yellow zone will signify a further bullish continuation.
Have a great weekend!
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