Hey Traders,
quick and pretty self explanatory update for Gold:
firstly very short term levels to watch are 50ema hourly, backtest of a trendline and previous s/r level 914. on the upside 200ema hourly (purple line)
Volume cluster right above 200ema hourly lines up with backtest of trendline on the daily chart, on break above 20 and 50 daily emas and top of the channel as biggest expected resistance:
On the downside major support remains 200dma laminated with the lows. Break and close below that level will likely result in a pretty quick retest of 870 lows with downtrend channel on the way down expected to act as support.
Cheers
Vlad