GOLD

By Anand Srivastav

XAUUSD

, 4 hours

long

#Technical

#Bullish

Range

Resistance 1 2040.0
Quote Price 2028.91
Support 1 2010.0

On the 4 hour chart, we can see that we had a strong resistance zone around the 2015 level where we had the confluence with the trendline and the 61.8% fibonacci retracement level. The buyers piled in on the breakout and on the retest to target the 2063 resistance. The sellers, on the other hand, will now lean on the 2032 level which is the high of the US CPI release.