Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Gold just recently broke above a major previous weekly resistance area exactly at the $1990 level.
You can also see that with last week's candle Gold then closed inside of this previous resistance zone which is now turned support, moving averages and market structure are bullish so I simply do expect more continuation towards the upside from here.
On the daily timeframe you can also see that Xauusd is currently retesting previous daily support/resistance so also from a daily perspective everything seems quite bullish so in my opinion it is just a matter of time until Gold will actually create new all-time-highs.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Gold just recently broke above a major previous weekly resistance area exactly at the $1990 level.
You can also see that with last week's candle Gold then closed inside of this previous resistance zone which is now turned support, moving averages and market structure are bullish so I simply do expect more continuation towards the upside from here.
On the daily timeframe you can also see that Xauusd is currently retesting previous daily support/resistance so also from a daily perspective everything seems quite bullish so in my opinion it is just a matter of time until Gold will actually create new all-time-highs.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
