GOLD → Breaking through strong resistance. What to prepare for?

13 de jun. de 2023

XAUUSD continues to consolidate in the 1984 -1935 range while forming a local flat. The price breaks the resistance of the global pattern and gets a strong bullish signal.

On D1 we see the formation of a wedge, a strong enough pattern that is capable of forming awesome impulses. Price breaks the resistance and consolidates above the upper boundary of the pattern for several days.
On the 4-hour timeframe, price is in consolidation 1965-1954. A resistance retest is forming and there is a strong possibility that price could break that line.
On the H1 MA-200 and MA-50 we got a bullish signal.
On H4 the MA-50 acts as support.

Strong support: 1954, MA-50, the previously broken wedge resistance
Strong resistance: 1965
I expect that after the next retest of the resistance 1965, this level will be broken and we will see the growth towards 1981 and to 2000.

Regards R.Linda!