GOLD → Bulls hold the defense. Retest of resistance...

30 thg 7

XAUUSD is strengthening from 2370 and testing the resistance of the actual local trend. Dollar in range ahead of news...



Traders are waiting for Wednesday and the FOMC conference, where they may discuss atcual situation on inflation and monetary policy, as well as Fed Interest Rate Decision, where most likely the interest rate will remain at the same level, but may make a good hint on a soon decline....
Gold on D1 is consolidating above the support line, which generally determines the future prospects for us. Locally, the bulls hold the defense above 2370, forming further growth, within which they break the resistance of the local triangle, but the price is held back by the global descending channel. It is not excluded that the price may test 2377-2370 before further growth, but at the moment the focus is on the nearest resistance zone.

Support levels: 2377, 2370
Resistance levels: 2391, 2400

Fundamentally, everything is quite positive for gold. Technically, the price is in consolidation, as traders are not ready to take serious actions early. But, all the attention is on the resistance, if the bulls manage to break 2390 and consolidate above, we will have a good chance to continue the growth.

Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;)

Regards R. Linda!

31 thg 7

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The resistance breakout took place
Bullrun is forming

31 thg 7

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