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17.03.2023 09:07 AM
XAUUSD, H4 | Potential Bearish Reversal froml?
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The current trend in XAU/USD is bullish. Based on chart analysis, there is a possibility of a bullish continuation towards the 1st resistance level. The analysis also indicates the presence of two strong support levels. The 1st support level is at 1913 and is an overlap support in conjunction with the 23.60% Fibonacci retracement level. The 2nd support level is identified at 1889, which is also an overlap support in conjunction with the 38.20% Fibonacci retracement level. Conversely, the analysis identifies two resistance levels. The 1st resistance level is identified at 1937, which is a multi-swing high resistance. The 2nd resistance level is identified at 1959, which is a swing high resistance.

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Dean Leo,
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