Inverse H&S pattern developed here. The price might shoot up another 48% from here to 72.85 level. The same pattern can be observed on several other stocks. Of course if price falls below 35.50, this idea will be invalidated. However, looking at the structure of the overall market, it seems likely that the price will keep rising higher in the coming days at...
The current 30 mins candle (UTC 21:30 to 22:00) has a higher probability of being a green candle than a red candle.
The current 4hcandle (UTC 18:00 to 22:00) has a higher probability of being a green candle than a red candle.
Price touched the 4h timeframe range high and weekly resistance and for the time being pushed back down.
Once XAUUSD crosses this level and closes above this level, very high probability the price goes further higher.
The current 4h(UTC 12:00 to 16:00) candle has a higher probability of being a red one than a green one.
XAUUSD is touching 4h timeframe support here. However, this support has been tested several times. The vulnerability of this support is quite high.
The current support level on 4h timeframe and the price has bounced from there. The next level its going to reach is 1937 with a higher probability before deciding further course.
The current 30m (UTC 11:30 to 12:00) candle has a higher probability of being a green one than a red one.
XAGUSD is currently trading in a range on 4h timeframe. This range is caused by the immediate resistance sitting on the range high which is also a weekly resistance. Currently the price seems to favor a pullback to its closest support of 22.16 which is also a weekly support.
The next 4h candle for XAUUSD has a higher probility of being a green one than a red one.
The price is currently consolidating under weekly resistance. A breakout was attempted yesterday but failed to materialize and price could not cross the resistance zone and fell under the resistance zone again.