Yesterday, the market went higher even though it made a pullback into the range zone after rejection.
XAUUSD
failed to move higher and pushed back. I think the market may retest the resistance, then go down to recent support levels, breaking through the upward channel border. The market formed a long-tailed bar on the daily timeframe, which suggests the bulls don't have the strength to make a new high. I expect the price to move lower, potentially testing the previous week's low. My goal is the support level at around 2148.
XAUUSD
failed to move higher and pushed back. I think the market may retest the resistance, then go down to recent support levels, breaking through the upward channel border. The market formed a long-tailed bar on the daily timeframe, which suggests the bulls don't have the strength to make a new high. I expect the price to move lower, potentially testing the previous week's low. My goal is the support level at around 2148.