https://ar.tradingview.com/chart/XAUUSD/Qal3yvJ9/
After the recent analysis of gold, titled (Have the bears woken up?), the price was based at the lower trend area of the ascending channel in blue color, and from this area there were 2 scenarios.
The first scenario is by breaking the lower trend line of the channel and changing the direction of gold from bullish to bearish, and that confirms breaking the 1958 support area.
The second scenario is the continuation of the general upward trend from the trend line, which is considered as a support area and a buying area.
The second scenario was achieved by completing the bullish trend and penetrating the 2015 resistance area upwards and turning it into a support area in the meantime.
This gives positivity again to gold prices, strength and bullish momentum for the bulls, and their awakening again, which gives evidence or signals of a bullish wave towards the upper trend area of the channel and the historical summit area of gold 2070, and this area, which is a selling area, with two things meeting for a bearish rebound and considering it an overbought area.
Currently, we will wait for the 2015 support area to be retested and waiting for buying opportunities to form around this area.
The 2050 area is a gold-resistant area where we can look for selling opportunities.
Dear brothers, I hope you like and follow
Your brother Ahmed
