XauUsd- A possible correction should be bought

2024년 2월 21일

As outlined in yesterday's analysis, as long as the 2015 zone remains intact, the bullish outlook prevails in XAUUSD, and we can anticipate a rise above Friday's high.
Indeed, this scenario unfolded, and the price managed to climb to the 2030 zone.

However, following an initial correction during yesterday's trading session, Gold failed to surpass the 2030 mark and began to decline once more.
The structure on the hourly chart suggests the potential for a correction, but any potential drop should be viewed as a favorable opportunity to buy at better prices.

With that said, my stance remains bullish as long as the 2010-2015 zone holds firm.
In my view, declines towards that support range should be seen as buying opportunities.

2024년 2월 21일

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NY open update:
XauUsd is very quiet, however is flirting with recent high which provides resistance now

2024년 2월 21일

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Later edit:
A break above 2030 would potentially expose 2040 important resistance