GOLD at Key Resistance: Possible Correction Ahead

29 Jan

XAUUSD has reached a critical resistance zone. This zone has previously acted as a barrier for price, leading to strong reversals in the past. This area aligns with a significant supply zone, where the ongoing bullish momentum may face exhaustion, signaling a potential turning point.

If the price shows bearish confirmation, such as rejection candles or a bearish engulfing pattern, I expect a pullback toward the 2733.000 level, which represents a logical target within the current market structure. This scenario reflects the potential for a short-term correction within the broader trend.

If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!

30 Jan

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