XAUUSD Eyes $1,960 Following Breakout

From dailypriceaction.com

Last week, I discussed how XAUUSD (gold) tested the top of a long-standing descending channel. In many ways, this pattern hinted at a bull flag starting from the 2018 lows. That’s when XAUUSD started its parabolic move from $1,160 to $2,075. With gold now firmly above the $1,850 area, it seems buyers are willing to push the envelope. The next key resistance from here is $1,960. That area rejected gold twice, once in November of last year and again this past January. As for more immediate levels, a daily close above $1,870 should flip the area to support. Keep an eye on $1,910 on the way up as well. It’s the ... (full story)