XAUUSD IDEA
The metal is forming a sideways range of 2739 - 2713 - consolidation. A primary retest of resistance could trigger a correction to 2727, or deeper, but with a high probability, gold could continue to rise
Resistance levels: 2739, 2750
Support Levels: 2727, 2713
Price may test the ATH in the near term. If the bulls break the resistance and hold the defense above 2739, gold may continue to rise.
If a bounce or false breakout is formed, the price may test the nearest support. Next, we need to watch for a reaction. If gold will return to retest 2739, then the chances of a breakout and further growth will grow!
Resistance levels: 2739, 2750
Support Levels: 2727, 2713
Price may test the ATH in the near term. If the bulls break the resistance and hold the defense above 2739, gold may continue to rise.
If a bounce or false breakout is formed, the price may test the nearest support. Next, we need to watch for a reaction. If gold will return to retest 2739, then the chances of a breakout and further growth will grow!
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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.