GOLD → Breakout of global trend resistance

19 ก.ย. 2023

XAUUSD reverses. The price overcomes several resistances and updates the local high, when retesting the liquidity area, to 1935

If we pay attention to the high timeframe, we can see that the price overcomes the resistance of the downtrend (wedge). The daily candle on Monday closed almost at the daily high, which is a strong signal that with another retest of the previous day's high, the growth may continue. Also, I am very likely to expect growth, but only after a retest of the previously broken support area. That is, in our case there are two zones for buying, it is the zone near the support (liquidity area 1930-1928) and the zone above the resistance 1934-1935. If this line is broken and the price consolidation above the level, we can also buy. Moving averages continue to realize the formed buy signal

Support levels: 1928, 1930
Resistance levels: 1934, 1935
I expect growth in the medium term. The price breaks the resistance of the bearish trend and gains the target - the retest of 1950

XAUUSD GOLD GC1! MGC1! DXY

Regards R. Linda!