XAUUSD Technical Analysis 18th March 2024 1h chart

17 Mar

– Previous Weekly candle closed Bearish around 2156.000 forming Daily Resistance around 2179.500, Friday Daily candle closed Bearish breaking below recent Daily Support formed on Wednesday last week. I’ll be looking for potential Buys above 2160.800 taregting 1h previous Support formed at 2166.800 and 1h Resistance around 2172.600. I’ll be looking for potential Sells below 2152.800 targeting 4h Support around 2146.200 and 1h Strong Support around 2140.500. Despite the Friday closing Bearish breaking below recent Daily Support it would be ideal to wait for the new Daily candle to form a top wick first before breaking the lows to have a higher probability for price to continue bearish.