Gold Trades Through Daily Resistance and Returns to Highs

Direct from the desk of Dane Williams.

Since we last took a higher time frame look at Gold, there's certainly been some juicy price action to trade.

Take a look at the move up between the last two levels of support/resistance on the updated daily chart.

XAU/USD Daily:

Just looking at those last two weeks of price action, we can certainly see that a lot has happened.

We had a breakout of resistance, followed by a retest of previous resistance as support.

Then the next resistance zone gave a bounce, before being broken and price currently trading near its highs.

Textbook price action showing price orderly moving between higher time frame support/resistance zones.

Mark your levels, then trade your levels.

Best of probabilities to you,

Dane.

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