Gold has retraced a bit to the upside as V shaped reversal with W pattern took place at the bottom 1764.

Bears still have few more options. The first POC zone 1832-35 might reject the price to the diwnside else the resistance 1841 will be hit. However, if we see the price going further up watch for 1850-56 zone where Order block is. In bothe scenarios, GOLD might drop to 1802 which is 50.0 of the swing. Only above 1876 bulls will have the real power.

XAUUSD


The analysis has been done with the CAMMACD.Core System.

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