The bullish momentum of Price last Friday implies we might be seeing the beginning of a new wave after the massive rejection at the demand zone at 1810.

On the 3day chart shown below, we saw that MACD has shown a dip in momentum which validates the divergence of wave 2 and wave 4
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The USD news released during the week also had little or no effect on the momentum of Gold coupled with the fact that the Israel-Palestine war is also a factor, I think we might be seeing new highs on GOLD for this year soon.

For the immediate concern, there's a supply zone at 1940-1952, and if GOLD rejects there, we might see some pullbacks to the demand zone shown on the chart.

I would advise looking for buying oppportunities until price reaches supply zone

I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.

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Price started with a gap down and its moving steadily. I am expecting some reactions at 1914 which is the target for the rejection at 1932.
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IF Price gets rejected at 1914 level, we might see another bullish move up to 1950 else, we are going down to 1900
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We saw Price reject at 1914 like I anticipated, so I envisage GOLD moving up to 1940
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😍 200 whooping pips 💸🤑🤑
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Take partials here 🤑 and let the rest run to 1948
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All TP hit 1950 confirmed.

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demandandsupplyzoneselliotwaveanalysisGoldpriceactionTrend AnalysisWave AnalysisXAUUSD

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