-XAUUSD is currently testing the resistance level at 1960-1962, with a lower high compared to the previous peak.
- If this resistance level holds strong, the price is likely to continue moving towards the lower trendline. Specifically, it is currently forming a consolidation pattern known as a Pennant.
- Look for buying opportunities around 1928 near the lower trendline if there are any signs of buying pressure. Conversely, at the price level of 196x and the given timeframe, we can consider selling positions.
- If this resistance level holds strong, the price is likely to continue moving towards the lower trendline. Specifically, it is currently forming a consolidation pattern known as a Pennant.
- Look for buying opportunities around 1928 near the lower trendline if there are any signs of buying pressure. Conversely, at the price level of 196x and the given timeframe, we can consider selling positions.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.