Gold -> Wait For The Break!Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Gold just recently retested a quite strong previous weekly resistance area exactly at $2000 and already rejected this zone towards the downside.
You can also see that as we are speaking Gold is retesting previous weekly resistance which is now turned support exactly at $1945, overall market structure is also still bullish so I am now just waiting for a clear break above the $2000 resistance and then I do expect more continuation towards the upside.
On the daily timeframe you can see that Gold is currently stuck in between the $2000 resistance and the $1945 support area - as long as the market remains between those two zones there is no clear trading setup so I am now just waiting for a clear break above the $2000 resistance followed by a retest before I will then probably enter a long to capitalize on the next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
