Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Gold is slowly but steadily approaching its previous all-time-highs exactly at the $2070 area.
All of this previous resistance which we rejected two times towards the downside in the past is now turned quite strong resistance again, just the past couple of weeks Gold is up quite nicely so I do expect at least a short term rejection away from the resistance area to retest the next support zone at $1955 before then creating the continuation towards the upside.
On the daily timeframe market structure is very bullish with today's break above resistance so I am first waiting for a retest of the previous resistance at $2000 and then from there I do expect a final push to retest the previous all time highs at the $2060 area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
