GOLD Is Breaking Out, New Support 1960-1940
Mar 21, 2023

XAUUSD

Gold with ticker XAUUSD broke to a new high at the start of February, but then sharply reversed as USD rallied across the board on inflation worries. We seen a sharp sell-off, that now looks like a completed correction to 1800, as turn-up from here is now very aggressive and extended. Looks like a textbook wave three that also took out 1959 level so more gains will be expected after wave 4 pullback. Nice support will then be this previous high, if it’s going to be retested.

GOLD Is Breaking Out, New Support 1960-1940 XAUUSD 4h chart
XAUUSD 4H Chart

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