Resistance 1: falling trend line of a falling parallel channel Resistance 2: 1726 - 1736 area Resistance 3: 1758 - 1765 area Resistance 4: 1801 - 1808 area
Support 1: 1680 - 1689 area
The market is currently testing Resistance 1. If the price breaks that, gold will immediately face Resistance 2, so if you want to buy the breakout, you need a daily candle close above these 2 structures first.
Alternatively, if you are bearish biased, consider shorting the resistance of the channel. Wait for a confirmation to short.
I am currently waiting. It looks like the market participants are looking for this week's fundamentals to start pushing.
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