January 28, 2018

$gold $xauusd at an interesting price level

Keep your eyes on $gold $xauusd, because it is at an interesting price level right now. On the weekly charts at a zone of resistance, so there could be some back and forward moving around this level. Which does not mean that the price will return from here. The trend is still bullish, and the fact that the price has been moving with some higher highs and higher lows into resistance, could mean that a break to higher prices is eminent.

Gold is at an interesting level right now, looking on the weekly charts

For the best entry, look for a bullish setup around daily support, pricezones which are marked with the blue lines. If the price breaks, so the day you could look for a reversal into the green line, which indicates the weekly resistance.

Gold on the daily chart. As you can see the price moves into resistance with some higher lows and higher highs, which could indicate a break of this long term resistance.

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