XAUUSD - GOLD
Looking at the technical analysis of Gold on a 1H time frame, it appears that the index is following an ascending triangle pattern.
I believe the general direction will be towards hitting the 1950 -1930 levels to bring liquidity. Breaking these levels means breaking the upward channel, which would be extremely painful. A retest of the trend should occur.
If the 2015-2017 level is broken, we will head towards 2036. If the 2036 -2041 level is broken, we will head towards 2052. However, if the 2048-2052 level is broken and it remains stable above it for two days, I consider it to be gradually heading towards 2113.
On the other hand, if the 1999.533 level is broken, we will head towards 1982. If the 1982-1974 level is broken, we will head towards 1950. As I stated above, breaking 1950 would be...
As I mentioned last week, nobody can predict what Gold will do. It went up 100 dollars and down 100 dollars on the second day. Gold at these levels is a game for the big players only.
I believe the general direction will be towards hitting the 1950 -1930 levels to bring liquidity. Breaking these levels means breaking the upward channel, which would be extremely painful. A retest of the trend should occur.
If the 2015-2017 level is broken, we will head towards 2036. If the 2036 -2041 level is broken, we will head towards 2052. However, if the 2048-2052 level is broken and it remains stable above it for two days, I consider it to be gradually heading towards 2113.
On the other hand, if the 1999.533 level is broken, we will head towards 1982. If the 1982-1974 level is broken, we will head towards 1950. As I stated above, breaking 1950 would be...
As I mentioned last week, nobody can predict what Gold will do. It went up 100 dollars and down 100 dollars on the second day. Gold at these levels is a game for the big players only.
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