Short

Gold (XAUUSD): Detailed Technical Outlook 🟡

Hey traders,

Here is my multiple time frame technical outlook on Gold.

Analysing a weekly time frame, I spotted a solid horizontal supply area.
1870 - 1920 is the zone from where a bearish wave may initiate.

On a daily time frame, the price is steadily growing within a rising parallel channel.
For now, I would consider trading its boundaries: selling its resistance and buying its support.

Alternatively, a bearish breakout of its support may trigger a massive sell-off.

I will post an update once I see a decent confirmation.

Good luck next week!

❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️

VasilyTrader

✅Join My Telegram Channel: t.me/VasilyTrading

❗️YouTube Channel youtube.com/c/VasilyTrader

💰Instagram: instagram.com/VasilyTrader/ 💰

✅Facebook: facebook.com/VasilyTrading/ ✅

Also on:

Related publications

EURUSD: Reasons to Be Bearish: 🇪🇺🇺🇸

by VasilyTrader

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.