GOLD trending higher: Can buyers push towards 3,350$?

5月22日

Right now XAUUSD is a classic case of a market trading within an ascending channel, with price action consistently respecting both its upper and lower borders.

The price has broken above a clear resistance zone and may pull back for a retest. This area also happens to coincide with the golden pocket of the recent swing and so it deserves special attention. If it holds as support, then that would be a confirmation of the bullish structure with the most likely possibility of a move towards 3,350, the middle side of the channel.

As long as the price stays above this support zone, the validity of the bullish setup is still there. If it does not, the short-term bullish outlook would therefore be interrupted and might be followed by further downside pullback.

Be sure to use proper risk management always.

5月23日

交易進行

Gold reached the forecasted move, I think that it could reach the top border of the channel 3,400$ - as predicted in my previous analysis. There is where it could meet a key resistance -