FX.co ★ XAU/USD, GOLD

Hello traders, Last week, the price of GOLD was able to activate a bullish pin bar pattern that formed a week ago. We saw a partial pattern completion, managing to push the price up to the round level of 4800. However, sellers stepped in and pushed the price back down. Nevertheless, the priority remains on the upside and buying, as I am waiting for a retest of the resistance at 4800. If this level is broken, the next likely target will be the round level of 5000. Sellers may re-enter aggressive selling from that point. The upcoming week is expected to be very volatile, so gold is likely to demonstrate a good range of movements.