Technician

#Gold at Potential Reversal Zone #forex

FX:XAUUSD   Gold/U.S. Dollar
3191 14 67
Gold             started a bullish wave recently. Establishing higher lows structure. However it is facing a key potential resistance area:
  • The completion of ABCD Strcuture at the 1.27 extension level
  • A horizontal resistance(previous swing high) at 1170.00
  • The 200-days SMA is few bucks above at 1176.00

So what's possible?
  • The PRZ among 1170-1176 could provide short term short positions with targets at 1157 and 1138
  • A breakout above 1176 with daily closing would suggest further upside with first target at 1205 . Second target at 1224.

My Best Regards
Technician
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Krach
a year ago
I agree, critical area for a possible reverasal.
Gold/USD Symmetric Triangle
Reply
aaahmed12
a year ago
TECHNICIQN! Where have you been
Reply
Technician TOP aaahmed12
a year ago
Hey there, :0).. Sorry for my absence in the past month or so. Have had lots of private conditions.
+2 Reply
Casey_Yeo
a year ago
welcome back mate! Solid analysis as always.
Reply
Technician TOP Casey_Yeo
a year ago
Good to see you
+1 Reply
BCMel
a year ago
Perhaps a 2nd retest of that downtrend line, but the gap in the triangle seems to be beckoning!
Reply
hi technician welcome back
+1 Reply
Technician TOP manijeh.kazemi.33
a year ago
Thanks my loyal friend :)
+1 Reply
XAUUSD: MY GOLDEN MAP
+1 Reply
Kingfisher1978
a year ago
Good to see you again. Good analysis
+1 Reply
Technician TOP Kingfisher1978
a year ago
Thanks mate.
Reply
MahmudReyadh
a year ago
Glade to see you again
+1 Reply
Technician TOP MahmudReyadh
a year ago
i am happy to see you again :)
Reply
Yahia.Awes
a year ago
Looking really good!
+1 Reply
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