VasilyTrader

GOLD (XAUUSD): Key Levels to Watch This Week 🟡

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar

On a today's live stream, we discussed Gold .
Here is my fresh technical outlook on that:

The price is currently stuck on a broken falling trend line .
It is a minor support from where the market may slightly recover.

The closest resistance that I see is 1680 - 1697 horizontal supply area.
A bit higher, we have an upper boundary of a falling parallel channel .
These 2 structure compose a contracting sell zone from where I will expect the next trend-following move.

The closest minor support is a lower boundary of a channel.
Being reached, I will expect a pullback from that.

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