Key time for
XAUUSD
and
GC1!
, as gold continues to consolidate inside the triangle.
Breakout above resistance at ~1970 would indicate strong possibility of trend continuation and new ATH.
However, if support levels are not held, risk of much stronger and deeper pullback to at least ~1700$ is likely to be starting
Somewhat similiar logic can be applied to
XAGUSD
as well right now
XAUUSD
and
GC1!
, as gold continues to consolidate inside the triangle. Breakout above resistance at ~1970 would indicate strong possibility of trend continuation and new ATH.
However, if support levels are not held, risk of much stronger and deeper pullback to at least ~1700$ is likely to be starting
Somewhat similiar logic can be applied to
XAGUSD
as well right now