Title
XAUUSD H4 | Breakout 1st resistance
Type
Bearish Reversal
Preference:
Price is currently at our pivot point of 2025.84, which is a swing high resistance. However, given the current bullish momentum, it is possible that price could break above this level and rise towards the 1st resistance at 2054.152
Alternative scenario:
However, in case of a reversal, price could potentially drop down to the 1st support level at 2002.394 which is a pullback support level
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.