Strong Resistance coming up for #XAUUSD #GOLD
Confluence of resistance for GOLD:
September Swing Low at 1849.21
200DMA: 1855.34
50 DMA: 1859.03
Monthly Open: 1863.84
Upper parallel of downward channel since August 2020
Need a close above Monthly Open 1863.84 to aim for target at 1919.84/1930.19
If resistance holds, downside targets 1763.16/1739.34, if this breaks next target 1689.57/1677.81
September Swing Low at 1849.21
200DMA: 1855.34
50 DMA: 1859.03
Monthly Open: 1863.84
Upper parallel of downward channel since August 2020
Need a close above Monthly Open 1863.84 to aim for target at 1919.84/1930.19
If resistance holds, downside targets 1763.16/1739.34, if this breaks next target 1689.57/1677.81
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