XAUUSD Price Action Breakdown
Gold is currently in a bullish trend. As of now it looks like price is in consolidation to build up momentum for another breakout. Last week Gold tanked, and I believe that the move from last week is currently being retraced.
If price can break above the level of resistance, there is a huge range for price to fill. I am in favor of bulls but waiting for volume to enter the markets. Most likely this will happen during the London session or pre-NY session. We will see.
1.Price broke out from this range.
2.Price is currently ranging to build up momentum for another break
3. A break above can lead to buys until 1828.85
4.Break below could be a quick scalp to retest the previous level of resistance.
If price can break above the level of resistance, there is a huge range for price to fill. I am in favor of bulls but waiting for volume to enter the markets. Most likely this will happen during the London session or pre-NY session. We will see.
1.Price broke out from this range.
2.Price is currently ranging to build up momentum for another break
3. A break above can lead to buys until 1828.85
4.Break below could be a quick scalp to retest the previous level of resistance.
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