Hello friends, I hope you are doing well.
We check the gold chart in the 1-hour time frame.
Gold has continued its upward movement for several consecutive days and has broken all supply areas upwards.
Currently, the market has reached the weekly resistance zone. We can already see some returns. We have five days in a row of bulls. I think the market will remain in a range until the New York session before the news is released.
It is difficult to predict the market's reaction to this news. Either the market will take liquidity above the historical high, then move lower and trigger a correction, or the market will move towards the demand zone on the 1-hour time frame (2110-2113), then continue to move higher.
And it continues to its highest level. Overall, I expect a choppy market. My target resistance is 2149.42
Share your opinion in the comments and support the idea with like. Thanks for your support!
We check the gold chart in the 1-hour time frame.
Gold has continued its upward movement for several consecutive days and has broken all supply areas upwards.
Currently, the market has reached the weekly resistance zone. We can already see some returns. We have five days in a row of bulls. I think the market will remain in a range until the New York session before the news is released.
It is difficult to predict the market's reaction to this news. Either the market will take liquidity above the historical high, then move lower and trigger a correction, or the market will move towards the demand zone on the 1-hour time frame (2110-2113), then continue to move higher.
And it continues to its highest level. Overall, I expect a choppy market. My target resistance is 2149.42
Share your opinion in the comments and support the idea with like. Thanks for your support!