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  • Vasily Trader

GOLD (XAUUSD): Technical Outlook & Price Action



hey traders,


here is my multi-timeframe outlook on gold:


on a daily the price is still coiling on a major falling trend line that the price touched last week.


Taking into consideration that the global trend is bullish , I still expect a bullish reaction & continuation.


However, checking the situation on hourly time frame, we can clearly see that the price is currently consolidating.

Local support cluster is based on a daily trend line and 1817 level - current local structure low.


I believe that we can expect an intraday bounce from that next week.


I would also recommend waiting for a confirmation before you buy.


Good luck!

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