Lingrid | GOLD sideways MOVE after Failed SUPPORT Break

8 Nis

XAUUSD market is oscillating between 2970 and 3050 levels, showing a potential consolidation phase. The price broke below the last 3 weeks' low but pulled back, forming a fake breakout. The price also tested February's high then bounced off, suggesting this support zone has significance to the market. Recently, the price formed a bullish divergence after creating a fake breakout of the previous support level. I think the market will continue moving sideways since the price is trading within the previous day's range. I expect the market to retest the swap zone above. My goal is resistance zone around 3050


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

9 Nis

İşlem kapandı: hedefe ulaştı

The price hits the target 🤝