GOLD (XAUUSD): Detailed Structure Analysis 🥇

9 Jan

https://www.tradingview.com/x/w8Nzcspc/

Here is my latest structure analysis and key levels for Gold.

Horizontal Key Levels

Support 1: 2015 - 2019 area
Support 2: 1973 - 1979 area
Support 3: 1931 - 1938 area

Resistance 1: 2077 - 2088 area
Resistance 2: 2143 - 2148 area

Vertical Structures

Vertical Support 1: Falling trend line

Vertical Resistance 1: Falling trend line

The market is currently approaching a Support 1.
2 trend lines compose a bullish flag formation.
We stick to the plan that I shared earlier on Sunday.
We are looking for a bullish breakout of the Vertical Resistance 1 to buy.

Alternatively, a bearish breakout of Support 1 will be give as a strong bearish signal.

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