GOLD (XAUUSD): Detailed Technical Outlook 🥇

١٣ أغسطس ٢٠٢٢

Hey traders,

Gold closed within a major horizontal weekly structure resistance again.
Analyzing an intraday perspective, I spotted a rising wedge on 12H time frame.
The price nicely bounced from its support on Friday.

To catch a correctional move from the underlined structure, wait for a bearish breakout of a wedge's support.
It will trigger a bearish move at least to 1775.

Alternatively, weekly candle close above a yellow area will trigger a bullish continuation.

Good luck next week!

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١٤ أغسطس ٢٠٢٢

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