Ongoing geopolitical tensions drove gold prices to unprecedented heights. It is now trading at 1916, which was the record high in 2021.
This situation allows two possible movements. The first one is a continued growth until a false breakout of the 2021 high, followed by a dip to 1885, which is the nearest area of buyers.
The second one is a decrease in quotes to 1885. In the event of a false breakdown, an increase to the 2021 high is possible.
Both scenarios are based on false breakouts that need to be waited for. They are also based on the "Price Action" and "Stop Hunting" strategies.
Good luck and have a nice day!
