• Vasily Trader

GOLD (XAUUSD) Price Action Analysis & Technical Outlook

Hey traders,

A lot of questions about Gold .

Analyzing a price action on a daily and following the impulse legs from 1721 September's low

we can derive that the market is trading in a local bullish trend .

With an initial bullish impulse to 1781 and a retracement to 1745

the price managed to set a new higher high higher close then.

Now the area between a current October's high - 1800 & the last higher low - 1745

is a so-called bulls' zone.

Within that entire area, we expect a bullish accumulation & continuation.

Next week look for confirmation within the underlined zone and look for buying opportunities there.

Your initial target will be the retest of the current high.