Gold (#XAUUSD): 2 Scenarios For This Week Explained 🟡 – Analytics & Forecasts – 27 March 2023

⚠️Gold closed this week, approaching a solid daily resistance.

Depending on the reaction of the price to that structure, I see 2 potential scenarios for next week.

Bullish Scenario

If the price breaks and closes above 2010 resistance on a daily,

a bullish continuation will be expected to 2060 level.

Bearish Scenario

The price may respect the underlined resistance.

1917 – 1940 is the closest strong support.

If the price drops and closes below that area,

a bearish continuation will be expected to 1891.

Wait for a breakout and then follow the market.

For Additional confirmation use: ROC Indicator

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