Gold is attempting to reenter a 4 HR Trend Channel. As analyzed yesterday, Gold failed to sustain bearish momentum and ultimately lost the battle with the bulls. The Bulls are currently being tested by a 4 HR Support line turned Resistance. & a Box Zone.($1902 - $1906) Pending the breakout of those areas, price should rise towards the 0% Fibonacci Level. ($1921)
On the flip side, If Gold fails to break above the mentioned areas. Then I predict a downside movement bottoming out near the high of $1800s.
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On the flip side, If Gold fails to break above the mentioned areas. Then I predict a downside movement bottoming out near the high of $1800s.
Comment your ideas on XAUUSD below!
All Likes & Comments are Appreciated
