Hello everyone! Today i want to share some macro analysis with you!
Technical Analysis: The 1-hour chart for gold shows a sideways consolidation at high levels. The short-term bearish trap has ended, and signals of a bottoming pattern have emerged.
Key resistance: today’s intraday highs at 4436–4440! $XAU/USD(XAUUSD.FOREX)$
First Support (Short-Term Stop-Loss): 4386–4388 (intraday low and lower Bollinger Band).
Second Support (Pivotal Point for Swing Strength): 4374–4376 (key 50% Fibonacci retracement level and resonance zone with the previous consolidation platform; this is a bottom line that bulls must defend at all costs)!
Continue to focus on Buy trades.
Strategy: Buy: near 4395–96; TP: 4420–4425–4430; SL: 4382 $Gold - main 2612(GCmain)$
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