Will Gold remain stronger enough to breakthrough this level?
Market Instrument: XAUUSD
Timeframe: Daily
Analysis: Technical
Structure: Resistance with Ascending Triangle
Prediction: Bullish
9 days ago with my previous analysis, I have predicted that the price is about to jump back on the trend line formed with the ascending triangle. Here the resistance is the key area that I am looking at the moment for a possible reflection to appear first in before moving in or finding a new opportunity with Gold. If the Buyers are respecting the supply zone in this area we will see a nice plunge in the coming days unless the bullish pressure remains stronger enough to break through this level to the upside and create a potential target close or above 1870.
Timeframe: Daily
Analysis: Technical
Structure: Resistance with Ascending Triangle
Prediction: Bullish
9 days ago with my previous analysis, I have predicted that the price is about to jump back on the trend line formed with the ascending triangle. Here the resistance is the key area that I am looking at the moment for a possible reflection to appear first in before moving in or finding a new opportunity with Gold. If the Buyers are respecting the supply zone in this area we will see a nice plunge in the coming days unless the bullish pressure remains stronger enough to break through this level to the upside and create a potential target close or above 1870.