Gold Medium term

Traders,

Here we have XAUUSD on the 4h chart.

Price action gives us an opportunity and good probability to bounce from the current levels therefore:

- Double bottom chart pattern confirmed with

- Bullish divergence from 18th of Dec
- Bullish divergence on the lower low that we have now

- Resistances and vol should be tested
1st one is the trend line resistance at 1832 : 1848 breaking this level with a daily close gonna lead us to have 19** level.

-Fake breakout happened with a pivotal level in the beginning of the year correlated with DXY, but in the end it's a game of probabilities and chart offers a good one here.

Regards,

Handel aktiv