GOLD (XAUUSD) – Broken Above Multi-Year Key S/R Zone

Chris Capre 2ndskiesforex

Price Action Context

After a brief pullback between August and November last year, bulls eventually managed to build enough positions and strength to push price through the long-term S/R zone that has acted as both support and resistance since 2011.

Trending Analysis

Our bias is bullish and weak pullbacks into the broken long-term resistance which now should act as support can offer potential trading opportunities to bulls.

Long-Term Key Support & Resistance Zones

Long-Term Resistance: 1750 - 1805
Long-Term Support: 1520 - 1575

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Author

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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