FX:XAUUSD is showing strength as a hedge asset. The price continues to indicate to us that it intends to go even higher. The market is cleaned up after the shakeout and the big player continues to play his game.
(Idea from Apr.16: GOLD → There's no limit to the bulls' activity. Support retest)
Bulls form another intermediate bottom at 2365, building a limit support area. The price bounces and strengthens almost to 2400. Gold shows itself as a safe asset and finds interest from investors. On H1, the price breaks local resistance and heads towards 2400. At the moment, the market's target is to break 2400 and reach the liquidity area of 2431.
Resistance levels: 2431, 2400 Support levels: 2371, MA-50, 2365
Technically, this is a strong bull market. It is worth looking for strong support areas to buy or strong resistance areas to trade on a breakout. Potential target is 2400, 2430, 2450.
Regards R. Linda!
Trade active
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Retest of previously broken resistance, which plays the role of support