💡 XAUUSD: Next developments
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Bar D1 was a bullish pinbar model yesterday, showing that buying pressure pushed up from below for D1 gold, promptly preventing a breakdown from the Inside bar model, which could cause D1 gold to fall further. Because the Inside bar has not broken yet, the cumulative price compression state is still happening for D1 gold. The main chart structure of gold D1 is bullish.
H1 gold yesterday broke the bottom during the Asian session but rebounded afterward, creating a false break below, showing that there is buying pressure below. But the chart structure with gradually lower price peaks shows that there is still pressure to sell above, so today's H1 gold trend continues to be waiting to sell at the above resistance. If there is a breakout - from this resistance, H1 gold will establish an uptrend, providing the basis for the idea of buying later.
H1 gold yesterday broke the bottom during the Asian session but rebounded afterward, creating a false break below, showing that there is buying pressure below. But the chart structure with gradually lower price peaks shows that there is still pressure to sell above, so today's H1 gold trend continues to be waiting to sell at the above resistance. If there is a breakout - from this resistance, H1 gold will establish an uptrend, providing the basis for the idea of buying later.
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