EuroMotif

XAUUSD at near-term Resistance: can Gold break 1300 this push ?

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OANDA:XAUUSD   Vàng / Đô la Mỹ
Quick plot to illustrate the resistance zones just shy of 1300.
Besides the phsych value of 1300 round, many fibs align there.
I would be surprised to see it break through without pullback.

My last plot was a short which timed out nicely
Then closed shorts and went long looking for this bounce
Overall I am bullish, expecting near 1400 price range
Bình luận:
Here we are in the thick of it just before London Open. Closeup shows the precise relfections off each line thus I can have more confidence is the other lines plotted by those Fibs. Whether price drops here or not, just this observation is worth noting.

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Bình luận:
Might have snuck past resistance here but Gold tends to do that, run a little above the obvious resistance then turn. NY markets not open yet, lets see what they do with it today.

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Bình luận:
Now at next resistance zone. This will be a true measure of bull strength. I expect a clear pullback here, but lets see.
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Bình luận:
We have an initial reaction to the Resistance zone now lets see if it can fall back below 1300 round and test the previous zone below.

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Bình luận:
Since last update just above, that resistance zone around 13.04 rejected price, but only to the previous resistance which acted as support Now we are back to the zone, which will likely break this time, at least for a stop hunt above as NY opens.
Bình luận:
Watching 1305.75 and then 1308
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