GOLD (XAUUSD): Current Situation🥇

A lot of questions about Gold.
At the moment, the market is approaching a strong horizontal demand cluster.
1870 - 1890 is a very important decision zone.
The reaction of the price to that will determine the future direction of the market.

If the price breaks that to the downside,
a bearish move will be expected to a major rising trend line - that will be the next strong support to watch.

If we see a decent confirmation within the underlined zone, the price may bounce.
The closest resistance on focus will be 1985 - 2000 area.

For now, stay calm and wait.

❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️

Yorum:

Check my new idea on AUDCHF: