XAU/USD Daily Analysis
Price has now broken through daily resistance at $2475 per ounce and created an all time high with strong bullish momentum on Friday.
We can now look for price to form a new resistance level and retest/reject the same zone (2475), which would potentially indicate more upside to come.
With price making an all time high, sellers of physical gold may see now as a great opportunity to sell and bank profits. This in turn, could mean that we see last weeks price action as a false break. Price action this week will be key.
We can now look for price to form a new resistance level and retest/reject the same zone (2475), which would potentially indicate more upside to come.
With price making an all time high, sellers of physical gold may see now as a great opportunity to sell and bank profits. This in turn, could mean that we see last weeks price action as a false break. Price action this week will be key.
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