XAUUSD Gold 4 h Analysis
key resistance: 1920
#GOLD market is making lower highs and lows. It tested the resistance level at 1920 and sharply bounced off it.
But if the market pullbacks to a resistance level, as you can see, the price makes big red candles vs small bullish candles.
Gold- Do we finally have the bottom?
In the short term, we have a spike under 1900 and after the test of 1930 zone resistance, Gold found a bottom again above 1900.
In conclusion, I'm bullish as long as 1900 is intact and I expect a new test of the 1935-1940 resistance zone.
Also, a break of this zone would expose important 1980 zone resistance.
On the other hand, a break under 1900 would not make me bearish, just delay this scenario
#GOLD market is making lower highs and lows. It tested the resistance level at 1920 and sharply bounced off it.
But if the market pullbacks to a resistance level, as you can see, the price makes big red candles vs small bullish candles.
Gold- Do we finally have the bottom?
In the short term, we have a spike under 1900 and after the test of 1930 zone resistance, Gold found a bottom again above 1900.
In conclusion, I'm bullish as long as 1900 is intact and I expect a new test of the 1935-1940 resistance zone.
Also, a break of this zone would expose important 1980 zone resistance.
On the other hand, a break under 1900 would not make me bearish, just delay this scenario
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