Hi Everyone
As you may know, with the beginning of tapering and early signs of rate hike.
XAUUSD
met with a slightly bullish buying pressure which resulted as a retest of the local resistance. If the buyers manage to push the price above the said level, there is still an unfilled gap between 1815-1843 levels. And above that, around 1850.80(which is marked on the chart)
Right now, after it's parabolic rise during the 2020, Gold is still at consolidation phase and ranging between 2 monthly levels. If the price manages to break above 1912 levels and manage to reclaim it, then we can talk about the possibility of an uptrend and ofc new ath. However, if the price loses 1676 level, then it will clearly show us, sellers are still in control of
XAUUSD
.
As you may know, with the beginning of tapering and early signs of rate hike.
XAUUSD
met with a slightly bullish buying pressure which resulted as a retest of the local resistance. If the buyers manage to push the price above the said level, there is still an unfilled gap between 1815-1843 levels. And above that, around 1850.80(which is marked on the chart) Right now, after it's parabolic rise during the 2020, Gold is still at consolidation phase and ranging between 2 monthly levels. If the price manages to break above 1912 levels and manage to reclaim it, then we can talk about the possibility of an uptrend and ofc new ath. However, if the price loses 1676 level, then it will clearly show us, sellers are still in control of
XAUUSD
.