• Vasily Trader

GOLD (XAUUSD):Why So Slow?! Technical Outlook

Hey traders,

That week was very boring for gold traders:

after a bullish breakout of a falling wedge pattern the price started to coil slowly.

On Friday bulls tried to approach a daily resistance cluster but were immediately rejected.

Now, from a current perspective we have a local moment of indecision on gold .

1720 - 1726 is the closest support

1780 - 1790 is the closest resistance

While the price is stuck within that range, consider its boundaries for pullback trading.

To catch the next move, wait for a breakout of one of the boundaries of the range.

That will be your trigger.