Hello Traders! 🚀
Yesterday, XAU/USD (Gold) broke through its resistance zone with a strong bullish move. After the breakout, the price surged higher, creating great momentum. Currently, the market is approaching the resistance zone again, and there's a possibility that we could see a retracement to the second support level for a potential pullback.
🔑 Key Levels:
Target: My target for XAU/USD is 2685/90. Watch closely as this could be the next significant resistance area.
Resistance Zone: The immediate resistance stands at 2664.
Support Zones:
The first support is at 2652. If price holds here, we may see further bullish action.
The second support is at 2640, which could act as a potential retracement point if the market pulls back before continuing upward.
As always, stay alert to market conditions, and trade wisely! Let's keep an eye on these levels for potential opportunities.