XAUUSD 1H - Levels

We're closing off for the week so this is a quick update with what to look out for in the remainder of the session on Gold.

We can see we had the push up into the resistance region that we highlighted yesterday where we saw a reaction in the price. What we haven't seen is a clean break of support so it looks like they'll either close the month around this range, or, we're going to get a late Friday move in Gold. We have a small target above and a few below so we would say look out for the the test on that 1925-30 region and look for resistance there or slightly above that. As we said yesterday, there was more above than below so there is still a chance we will break the range in the next few hours otherwise it will be a new month next week and we'll revisit the charts again.

We'll be back on Sunday with the KOG Report. As always, please trade safe.

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From Camelot this morning:

XAUUSD 29/04/22 1H

Support: 1907 / 1901 / 1895 / 1885 / 1877 / 1870

Resistance: 1917 / 1920 / 1924 / 1930-35 / 1943

KOGs bias for the day:

Bullish above 1903 with targets above at 1920, 1925 and above that 1932

Bearish on break and close of 1903 with targets below 1885 and below that 1877

Summary:

As anticipated we could see the price attempting to recover and target the 1920 level. This is why we suggested that we wouldn’t be selling so low down, rather looking for the short higher up around the 1920 level and above that 1940. We can see potential for this to go a little higher so let’s see if we can reach the 1930-35 level and how the price reacts at that level. It’s the last day of the month and they’ve started the swing from early session. Its going to be a very difficult trade on Gold so if you’re new to trading stay away from it!