GOLD XAUUSD > Technical Analysis > 8th December
Good morning traders,
Last couple of days have been a little slow ranging around 1780. Whilst we didn't go as low as I was expecting I believe we have established some confirmations.
As you can see we have begun to break out of the down trend channel for the month. Whilst I was thinking it was just peaking above the channel we can see the formation of a head and shoulders.
With movement heading upwards I would be looking for buys. Ideally around 1785. If we can break 1800 I would then be looking to hold to 1810-20 for the week. Expect some pullback when hitting 1800 resistance.
If you found this useful please shoot me a like and feel free to leave some feedback.
Trade safe!
Last couple of days have been a little slow ranging around 1780. Whilst we didn't go as low as I was expecting I believe we have established some confirmations.
As you can see we have begun to break out of the down trend channel for the month. Whilst I was thinking it was just peaking above the channel we can see the formation of a head and shoulders.
With movement heading upwards I would be looking for buys. Ideally around 1785. If we can break 1800 I would then be looking to hold to 1810-20 for the week. Expect some pullback when hitting 1800 resistance.
If you found this useful please shoot me a like and feel free to leave some feedback.
Trade safe!
Comment:
entry nearly ready. careful of jolts news.