GOLD (XAUUSD): Key Levels to Watch🥇

4 nov 2022

Gold bounced one more time from the support based on the year's low.
Here are the key levels for you to watch:

Support 1: 1614 - 1622 area

Resistance 1: 1665 - 1675 area
Resistance 2: Major falling trend line
Resistance 3: 1726 - 1735 area

For now, there are 2 options to short:

1 - wait for a bearish breakout of Support 1
2 - wait for the text of the intersection between Resistance 1 / 2
and the wait for a confirmation to sell

If you want to buy, I would suggest a breakout trade of Resistance 1 / 2.
It may push the market all the way up to Resistance 3.

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