$XAU #Gold is moving below the 4366 resistance level. If it cannot break through and a pullback occurs, the 4154 level is the fib 0.618 support—this is where buyers could come in again.
If a close above 4366 occurs, the uptrend could continue up to the 4598 level. A sustained hold above it would be a sign that the uptrend will continue. The main rise will come when it closes above the falling blue trend line. It may try the peak again.
In addition, we are following the breakdown of the falling trend; a breakout could come around 4700. The breakout level may change depending on the angle of the trend’s development. After the trend breaks out, the rise could continue up to the previous high. I will share it with you when it breaks.
In pullbacks, we will track the 4023 bottom; as long as it holds, the uptrend may continue.
If a close above 4366 occurs, the uptrend could continue up to the 4598 level. A sustained hold above it would be a sign that the uptrend will continue. The main rise will come when it closes above the falling blue trend line. It may try the peak again.
In addition, we are following the breakdown of the falling trend; a breakout could come around 4700. The breakout level may change depending on the angle of the trend’s development. After the trend breaks out, the rise could continue up to the previous high. I will share it with you when it breaks.
In pullbacks, we will track the 4023 bottom; as long as it holds, the uptrend may continue.
