It looked like XAUUSD wanted to break out recently, but buyers couldn’t hold prices above the 1920 region.
It now looks like we have a smaller structure in play where the upper level extends from the August 18th high.
Given last week’s failure to push higher, we could see a retest of 1850 this week.
But even a close below 1850 wouldn’t negate the bullish outlook.
It would only open the door to the 1790 support level which also correspond to 200ma.
It now looks like we have a smaller structure in play where the upper level extends from the August 18th high.
Given last week’s failure to push higher, we could see a retest of 1850 this week.
But even a close below 1850 wouldn’t negate the bullish outlook.
It would only open the door to the 1790 support level which also correspond to 200ma.
