GOLD (XAUUSD): Consolidation & Complete Indecision
⚠️Gold is currently trading in a horizontal range on a 4-hour chart.
There are two possible scenarios depending on which direction the breakout occurs.
📈In a bullish scenario, if the price breaks above the 2956 resistance and closes above it on a 4-hour chart, I anticipate a bullish movement towards the 2980 level.
📉In a bearish scenario, if the market breaks below the 2916 support and closes below it, a bearish movement towards the 2900 level is expected.
As always, the breakout is the best confirmation, so it is recommended to wait patiently for that.
There are two possible scenarios depending on which direction the breakout occurs.
📈In a bullish scenario, if the price breaks above the 2956 resistance and closes above it on a 4-hour chart, I anticipate a bullish movement towards the 2980 level.
📉In a bearish scenario, if the market breaks below the 2916 support and closes below it, a bearish movement towards the 2900 level is expected.
As always, the breakout is the best confirmation, so it is recommended to wait patiently for that.
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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.
Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
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.