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24.08.2023 07:02 AM
XAUUSD, H4 | Potential bearish reversal?

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The XAU/USD chart is bullish, hinting at potential upward movement. There's a possibility of the price moving towards the 1st resistance at 1931.07. The 1st support at 1901.87 is an overlap support, suggesting a possible rebound point, while the 2nd support at 1887.91 is a multi-swing low support, reinforcing its significance. The 1st and 2nd resistances at 1931.07 and 1944.27, respectively, are both overlap resistances, possibly acting as barriers to further price ascent.

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
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