Gold (XAUUSD) Update Next Week 18-22 Dec23
The market seems poised for a period of consolidation, suggesting a sideways movement before a potential directional shift. During this phase, support is anticipated around 2010 - 2007, and a retracement could lead to a brief upside towards the resistance at 2028 - 2030. The market currently aligns with a green chart pattern, showing a possible resistance followed by a descent to 2000 - 1995 for Target 1, and further down to Target 2 at 1975 - 1960.
Other side, If market successfully breach its resistance levels of 2030 - 2033, as indicated in the buying zone, an upward trajectory is likely possible. This could result in reaching the Target 2050 - 2060, with a subsequent move towards 2090. Monitoring the market closely is crucial to identifying whether it will adhere to the consolidation phase or exhibit a breakout in either direction.
Other side, If market successfully breach its resistance levels of 2030 - 2033, as indicated in the buying zone, an upward trajectory is likely possible. This could result in reaching the Target 2050 - 2060, with a subsequent move towards 2090. Monitoring the market closely is crucial to identifying whether it will adhere to the consolidation phase or exhibit a breakout in either direction.
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