GauravSaini

GOLD day chart bullishness probability

FX:XAUUSD   Gold Spot / U.S. Dollar
the day chart of xau contract is shown, a recent candle shows attempt to take support at lower levels, charts are sideways at the moment with some decent bullish possiblities , bullishnes will show in this order
1 the price on day chart should move above the blue falling trend line

2 the horizontal red line marks the first resistance on the upside
the resistance zone extends to 1340 approx
above which we can expect a good upside move
price now moved comfortably above trendline :those following this study can see the importance of trendlines in technical analysis and of course a wonderful trading opportunity also ; i myself took a trade on long side and it is moving well
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price trying to get past the falling trendline ,facing resistance....
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