GOLD (XAUUSD): Important Zone to Watch Next Week 🥇

21 באוג׳ 2022

Hey traders,

This week was very bearish for Gold.
We saw 5 consequent bearish days.

The price is trading within a peculiar confluence zone at the moment.
It is based on fib.retracement levels and a wide horizontal demand area.

I believe that the market is quite oversold now and we may see a pullback.
As a confirmation, you can consider buying a bullish breakout of a falling wedge pattern on 4H time frame.

I will watch gold carefully next week and will post an update once I spot a confirmation.

Good luck next week!

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