Lingrid | GOLD Weekly TECHNICAL Analysis

I think XAUUSD has the potential to reach all-time highs at 2500, although a pullback to around 2300 wouldn't be a surprise since the market failed to close above the key resistance at 2400, which means there is always a probability of sharp bearish moves. Right now, the market feels overextended in both directions. I expect the sideways move to last for a bit and then look for buying opportunities to enter the market at lower levels. I think there is still room for growth.

Looking at the weekly timeframe, we can see liquidity levels both above and below the last weekly candle. In the upcoming week, there is a possibility of the price moving upwards without a pullback or potentially decreasing towards the weekly lows. On the daily timeframe, we have identified two key levels for potential buying opportunities. The first level is below the low of the previous day, while the second level is where an impulse move took place. It is important to monitor these levels closely for potential buying opportunities. In general, I expect some pullback and continuation of the upward movement, but not forgetting that the price may be in a sideways movement this week.


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻