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04.12.2023 06:17 AM
XAU/USD Day I Bullish Bounce?
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The XAU/USD chart suggests the potential for a bullish bounce, with significant support and resistance levels in focus.

Support Levels:

At 2051.54, the 1st support is identified as "Pullback support." This level implies a zone where buying interest may emerge, potentially facilitating a bounce. Similarly, the 2nd support at 2010.44 is characterized as "Pullback support," reinforcing its potential role in stabilizing price movements.

Resistance Levels:

On the resistance side, the 1st resistance level at 2144.88 is labeled as "Swing high resistance." This level represents a significant barrier to further upward price movement

Dean Leo,
Analytical expert of InstaTrade
© 2007-2025

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