GOLD

By Gary Kinsley

XAUUSD

, 4 hours

long

#Technical

#Bullish

Range

Resistance 1 2063.57
Quote Price 2022.07
Support 1 2014.62

On the 4 hour chart, we can see that we had a strong resistance zone around the 2015 level where we had also the confluence with the trendline and the 61.8% Fibonacci retracement level. The buyers piled in on the breakout to target the 2063 resistance. The sellers, on the other hand, will want to see the price falling back below the resistance to leave behind a fakeout and position for a drop into the 1973 level.