XAUUSD monthly charts - rangebound

Now that we have looked at the weekly charts, where we saw signals, link attached below for your reference, lets take a step back and look at what is happening on the monthly charts

Out here, we see, price has rebounded/ rejected from the Resistance level of USD 1556 and has been inching downwards
Below are the various support levels
S1 : 1406
S2 : 1333
S3: 1142
S4 : 1044

Resistance levels:
R1 : 1559
R2: 1678
R3 : 1768
R4 : 1825
Its important to see whether price tests the support levels or gives us direction by breaching either the resistance or support levels over the course of next few months
Look out for this space for more, follow me if you would like to not miss the updates and share a thumbs up if you like what you see

Trade ist aktiv:

R1 breached, shorter term trading idea on Gold closed as may get some better entry points, but given geo political and other issues, long Gold