XAUUSD
Gold is currently at a major price level of 1200-1198 where price has rejected this price level several times now. Price has also tapped into a major supply zone off 1213-1216 before coming down. Price has been making HH and HL on the 4H, however I don't see longs on this pair yet without a clear break of 1216 zone. If we do break upwards, next target would be 1225-1226 and even possibly 1235. A clear break of 1216 could be the start of a gold bull run. A clear break of 1200-1198 area, we are heading back down to fill in the weekly wick at 1163 and possibly further down to 1140. US economy currently looks to get stronger, and makes more sense for gold to drop, however with the election this fall, this could be a catalyst to give gold a change in trend.
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