Gold (XAUUSD): Technical Outlook & Things to Watch Next Week 🟡

11 Des 2022

Hey traders,

This week was very bullish for gold and the price managed to return to a key weekly resistance cluster
from where it retraced earlier.

Next week, I will look for a pullback trade.
I spotted a rising parallel channel on 1H time frame and my trigger to short will be its bearish breakout - 1H candle close below its support.
A bearish continuation will be expected to 1790 then.

Alternatively, the next bullish move will initiate ONLY AFTER a breakout of the underlined resistance.
If you want to buy, I would suggest you waiting for its bullish breakout.

❤️If you have any questions, please, ask me in the comment section.
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