Gold Analysis, via Daily Chart

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold recently broke out of February's bullish flag pattern and broke pass that area of supply that is now demand (1350's area). Price is now floating in the Weekly Resistance area of 1428.30 and is creating an ascending broadening wedge pattern. There is also bearish divergence on the RSI indicator. These confluences are letting me know that this pair wants to reject resistance and push down, possibly to an area of demand.
GOLDUSD Rate From 1507 is all the resistance level and reversal bar within the current rising trend - So at present high at 1450 Gold Rate can only come down towards 1087 is recommended target Low
Great channel buddy!
CDaley91 Bullandbeartrading
@Bullandbeartrading, Thank you!
Do you think at open it will be bellow 1400?
+1 Reply
CDaley91 HersheyC
@HersheyC, who knows
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