GOLD (XAUUSD): Important Decision Ahead

15 Jul

https://www.tradingview.com/x/eiV7e2Av/

Gold is trading in a global bullish trend.

We can see that after a strong bullish wave in February and March,
the market stopped growing and started to trade within a horizontal range.

The market is stuck within the range for more than 3 months.
We see a test of its upper boundary at the moment.
An important decision is now ahead.

I believe that a bullish breakout of the resistance of the range
and a weekly candle close above that will be a strong bullish signal.
A new bullish wave will most likely initiate then.

Alternatively, the market may respect the resistance of the range the 4th time and keep
staying within its boundaries.

Let's watch the price action and look for the signal.

I will post the update soon.

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