XAUUSD 1H - Levels

XAUUSD 11/04/22 1H

Quick update with what to look out for in the remainder of the session.

So we opened and targeted that supply at 1950 like we said which gave the short into the first support of around 1940. We wanted to see a deeper pullback which would then give us a better entry for the 1970-75 target which was nearly achieved but not quite! So we will say, the target is still open, what we want to see is where the market closes today. We've illustrated the level to look for the break and close and where the price could potentially target.

From Camelot this morning:

Support: 1950 / 1945 / 1935 / 1930

Resistance: 1955 / 1957 / 1963 / 1970 / 1975

KOGS bias for the day:

Bullish above 1930 with targets above 1965, 1970 and above that 1975

Bearish on break of 1930 with targets below 1920, 1910 and below that 1985

Summary:

We got the push into 1950 supply which gave us a short term move into the 1940 level. We were expecting a bit more of a deeper pullback before resumption of the bullish move, however, looks like Gold wants more liquidity from above. This could be the end of swing 5 so a correction is very possible. Its Monday, remember what we say about Monday mornings!