Pure technical analysis. Dynamic support broken in August, dynamic resistance broken on October 23'. Due to Ichimoku Cloud indicator, we are still in bullish trend of high volatility, BUT! Price is inside the cloud, which means that for now, market is undecided about further direction. Conversion (Orange) and Base (Grey) lines are above the price action...
From technical point of view, we have clear Diamond pattern on a daily timeframe . As you can see on my chart, latest rally broke through the upper dynamic resistance, but got quickly pushed down while creating equal highs. Market closed at a key lvl static support area and dynamic one , from Diamond formation. Based on just technical side, I'm expecting ...
Gold has been trading in a descending channel since May. But something had to happen after bottom got rejected... unfortunately it was war. Eastern conflict launched XAUUSD to the first checkpoint before the Moon. It broke through semi-channel resistance, static resistance at 1945, main channel upper dynamic resistance and finally stopped just below...