GOLD H4 ANALYSIS ON 20/10/2023
- XAUUSD has an upward structure.
- However, despite the upward trend, the entry point is quite unfavorable due to excessively high speculative prices. We are looking for an opportunity to enter the market at 1998-2006 if there is a signal of rejection of the uptrend, with selling pressure in this price range. This is a strong resistance zone to consider for a sell order.
- A good buying resistance zone would be around 1930 if there is a price correction.
- However, despite the upward trend, the entry point is quite unfavorable due to excessively high speculative prices. We are looking for an opportunity to enter the market at 1998-2006 if there is a signal of rejection of the uptrend, with selling pressure in this price range. This is a strong resistance zone to consider for a sell order.
- A good buying resistance zone would be around 1930 if there is a price correction.