Gold (XAUUSD): Before The Market Closed... 🟡

٩ يونيو ٢٠٢٣

Many of you asked me to share the update for Gold.

One thing is certain: the market is in a deep consolidation:
the market is trading in sideways on a daily,
on a 4H time frame, we can spot a horizontal trading range,
one more horizontal range is also spotted on an hourly time frame.

That is what the absence of the news does with the market.

For those looking to buy, I can only suggest waiting for a bullish breakout of 1976 - upper boundary of a 4H range.
4H candle close above will most likely push the market higher.

If you want to short, watch 1960 support - lower boundary of hourly range.
If the 1H candle closes below that, a local bearish movement will be expected.

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