While the price is above the support of 1744.50, a resumption of an uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades if the Midterm level 1744.50 is broken.
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XAUUSD have strong key level between 1845 to1860 and its completely broken with strong bullish candle.
Also With Respect to Down Trendline it also broken with Strong bullish candle and now its retesting broken key level.
So its confirm that its going to more BUY and we have best chance to BUY GOLD.
We will take BUY order with Strong Stop loss...
After strong resistance facing at 1960, precious metal dipped hard falling directly to 1900 support. 1900 support held up nicely and price is currently consolidatibg around 1915-1920. Our price target of 1958 is just below strong resistance of 1960. If market bias changes and gold breaks 1893 support, our SL is placed neately below at 1890. As a start of the new...
Price is moving into Flag Range and as seen in the past whenever price came near the 200MA(1D) the price Jumps. (Similar situation)
Hoping GOLD now Reverse Back and moves UP.