XAUUSD Gold
GOLD
The gold market is updating its highs and it is building a accumulation phase at resistance. This type pattern usually breaks towards the main trend. We can see that price tried to break the zone and upward trendline before but it failed. The resistance becomes support which is a swing zone and if price pulls back to it I think its good area to go long. Alternative scenario is If price breaks the resistance it probably will continue updating its highs towards main resistance. My target is resistance at $1900.
The gold market is updating its highs and it is building a accumulation phase at resistance. This type pattern usually breaks towards the main trend. We can see that price tried to break the zone and upward trendline before but it failed. The resistance becomes support which is a swing zone and if price pulls back to it I think its good area to go long. Alternative scenario is If price breaks the resistance it probably will continue updating its highs towards main resistance. My target is resistance at $1900.
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