FenzoFx—Gold is trading higher today, made a new ATH. As of this writing, XAU/USD trades at approximately $4,222.0, testing the ascending trendline as support. Going long is still in play, but we suggest waiting for a correction toward $4,177.0.
This area is last day's opening gap in the futures market. Therefore, there is a high probability for the price to decrease near this level before a new leg upward.
This area is last day's opening gap in the futures market. Therefore, there is a high probability for the price to decrease near this level before a new leg upward.
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