GOLD (XAUUSD): Technical Outlook Explained

https://www.tradingview.com/x/qY6KgxHh/

Gold is currently consolidating within a narrow horizontal range on a 4H time frame.

The reaction of the market to Powell speech was very limited and the price did not
manage to initiate an impulsive movement.

If you are looking for a bullish confirmation,
I suggest waiting for a bullish breakout of an upper boundary of the range.

A 4h candle close above 2371 will confirm a violation.
A bullish continuation will be anticipated at least to 2390.

Alternatively, a bearish breakout of the support of the range
will trigger a further bearish continuation lower to 2338 support.

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