200 EMA acting as strong resistance for Gold (XAUUSD).
Points to consider :
Trades are trying their best to take the prices higher than 200 EMA but traders are not able to take the prices further! this is clear evidence that buyers are accumulating at lower prices of 2600 to 2620.
It's evident that 20 $ gap from 2600 to 2620 is on record to break. if this breaks with a bigger volume only then we can assume that the price will break out and sustain. We want price to sustain and proceed further as we seeking buyers interest . But if such sudden price rises and falls down below 200 EMA we cannot be seeking a confident buyers momentum .
Fresh buyers may seek interest 2620 breach of price with sustainable volume . Confirmation to be considered as a larger volume candle on the 2620 price level if observed and found then buyers can enter long with strict stop loss at 2600.
Trades are trying their best to take the prices higher than 200 EMA but traders are not able to take the prices further! this is clear evidence that buyers are accumulating at lower prices of 2600 to 2620.
It's evident that 20 $ gap from 2600 to 2620 is on record to break. if this breaks with a bigger volume only then we can assume that the price will break out and sustain. We want price to sustain and proceed further as we seeking buyers interest . But if such sudden price rises and falls down below 200 EMA we cannot be seeking a confident buyers momentum .
Fresh buyers may seek interest 2620 breach of price with sustainable volume . Confirmation to be considered as a larger volume candle on the 2620 price level if observed and found then buyers can enter long with strict stop loss at 2600.
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