XAUUSD 1H - Levels

XAUUSD 09/02/22 1H

Support: 1825 / 1822 / 1815 / 1808 / 1805

Resistance: 1829 / 1831 / 1835 / 1837 / 1842-44


KOGs bias for the day:

Bullish above 1812 with targets above using immediate resistance levels.

Bearish on break and close of 1806 with targets below 1785 and below that 1777.

Summary:

There are 2 scenarios here. A further push into key liquid resistance levels with the first being 1835 and the one above the 1840-43 price point is where we could see resistance and then the technical retracement to begin.

Or, we see a decline in the remainder of the session towards that 1820-25 region and then push up again in the following sessions.

In either case, we've hit our long targets at the moment and are now waiting to see a break and close either side of the immediate range hence a late update today. We still have our targets below so we'll update as we go along.

As always, trade safe.

KOG