GOLD (XAUUSD): Did You See This CONFLUENCE ZONE??
Analyzing a weekly time frame on Gold I noticed a very peculiar zone of confluence.
We see a perfect match between a major rising trend line (connecting higher lows) and 382 retracements of multiple impulse legs.
The underlined green zone gives us a perfect demand area to catch a potential bullish move.
Keep monitoring this zone and look for a confirmation on a daily as a signal.
Will the price respect this zone?
What do you think?