GOLD → The bullish potential is back. December trap

2 thg 1

XAUUSD is starting to catch up with the bullish potential, which was forged at the end of 2023, when we received negative news for $.



On D1 we see gold rising on the back of a weakening DXY . The price breaks through the important and historical resistance 2069 - 2070. A retest and consolidation of price above the level is forming. A price consolidation this week above this level will confirm the intention of the bull market. In this case, we may see a potential target in the form of: 2085, 2100 and even 2150.
On H1, the price is updating the local support (false breakout) on the background of bullish news for gold. And this is a logical scenario before further growth. I warned you that before the growth, even on good news, the price can go down.
Now it is important for us to see the price consolidation above the mentioned liquidity area.

Support levels: 2075, 2070, 2069
Resistance levels: 2079, 2082, 2088, 2100

I expect growth after the price fixation above the mentioned support area.

Regards R. Linda!