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XAUUSD | Continuation Watch | Analysing Patterns and Trends | METALS

Published: 27.03.2024
by Joseph Jeffriess

Thank you for joining us as we delve into today’s gold market dynamics. Our attention is keenly fixed on the daily fluctuations of gold (XAUUSD).

Today’s focus: Gold (XAUUSD)

Pattern – Price range
Support – 2154
Resistance – 2187

So, what’s on our minds as we analyze the gold market today?

We’re pondering the tantalizing possibility: could a decisive close above the resistance level herald the beginning of a fresh upward trend?

On the flip side, if we witness a breach below the support level, it might signal a deceptive manoeuvre, possibly setting the stage for a final higher low.

But here’s the question gnawing at us: are the buyers running on empty? As the price consolidates and struggles to breach resistance, could this be indicative of waning buyer momentum?

Keep your wits sharp and your strategies nimble, traders.

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