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
GauravSaini
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price trying to get past the falling trendline ,facing resistance....