XPTUSD – Broken Above Multi-Year S/R Zone (Daily chart)

Chris Capre 2ndskiesforex

Price Action Context

After trading roughly 11 months below the multi-year S/R zone, bulls have now successfully pushed the price of this precious metal back above the key resistance, which is now being tested as support.

Trending Analysis

The current pullback should be of interest to bulls as it can offer potential buying opportunities in anticipation of a possible bullish continuation north.

Key Support & Resistance Zones

R: 1015 – 1043
S: 865 – 890

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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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