GOLD
XAUUSD Technical Analysis 19.09.2022 1h chart
– Previous Weekly candle closed Bearish at 1675.300 forming Weekly Resistance at 1717.100 as the price broke a minor Weekly Support formed on (05.09.2022), Previous Daily candle closed Bullish at 1675.300 forming Daily Support at 1664.300.
– Buys on close above 1678.200 as price breaks above the 1h Resistance targeting 30min previous Support formed on (15.09.2022) at 1683.500 leaving Runners to the 1h Strong Resistance at 1690.000.
– Sells on close below 1670.900 targeting 1h previous Strong Resistance formed at 1665.900 leaving Runners to 4h Support at 1659.200.
– As Daily Support was formed on Gold at 1664.300 on Friday there could be a probability of the current price to form some pullback on the higher timeframe to at least 1700 retesting the Major Key Level, which will also allow the current new Weekly candle to form a top wick before flipping Bearish following the overall Bearish trend on Gold.
– Previous Weekly candle closed Bearish at 1675.300 forming Weekly Resistance at 1717.100 as the price broke a minor Weekly Support formed on (05.09.2022), Previous Daily candle closed Bullish at 1675.300 forming Daily Support at 1664.300.
– Buys on close above 1678.200 as price breaks above the 1h Resistance targeting 30min previous Support formed on (15.09.2022) at 1683.500 leaving Runners to the 1h Strong Resistance at 1690.000.
– Sells on close below 1670.900 targeting 1h previous Strong Resistance formed at 1665.900 leaving Runners to 4h Support at 1659.200.
– As Daily Support was formed on Gold at 1664.300 on Friday there could be a probability of the current price to form some pullback on the higher timeframe to at least 1700 retesting the Major Key Level, which will also allow the current new Weekly candle to form a top wick before flipping Bearish following the overall Bearish trend on Gold.
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