Andre_Cardoso
Long

$xauusd Threatening the structure trend-line resistance

OANDA:XAUUSD   Gold Spot / U.S. Dollar
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OANDA:XAUUSD

Gold it's now facing an important structure pressure zone after reinforcing the major ascending structure channel with support at 1266/1269.
Previous structure trend-line supporting the lows from January 24th and March 7th recovered, but also the trend-line covering the previous and most recent highs as resistance now as potential/eventual support.
Breaking above this pressure zone should force the price to retest the weekly fractal resistance around 1310, with one eventual bearish butterfly pattern projected at 127% fib just a couple of points above the major resistance at 1322.

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