XAUUSD|Breaking resistance zones and continuing growth
Hello friends, I hope you are doing well.
Yesterday, in gold analysis, we expected the supply areas to prevent the gold price growth, as we saw downward reactions from these areas.
But the selling pressure on gold increased and continued to move upwards.
A new upward trend has come in the form of an upward channel.
We had a resistance level in the one-hour timeframe, and now we see the one-hour candle closing above this level.
This means that gold can see higher prices.
My suggestion is to look for patterns to enter buy positions on reversals to support areas.
My target for the short term is the supply area (2047-2050).
Yesterday, in gold analysis, we expected the supply areas to prevent the gold price growth, as we saw downward reactions from these areas.
But the selling pressure on gold increased and continued to move upwards.
A new upward trend has come in the form of an upward channel.
We had a resistance level in the one-hour timeframe, and now we see the one-hour candle closing above this level.
This means that gold can see higher prices.
My suggestion is to look for patterns to enter buy positions on reversals to support areas.
My target for the short term is the supply area (2047-2050).
Trade closed: target reached
Trade closed: target reached:
target 2050 reached. r/r 5
sl:2028.60