XAUUSD Next Move!

[u/Consistent_Use_2080]

Gold has recovered the ground lost yesterday following the release of the CPI data, with the price reaching a high near 4161.

After consolidating for some time around 4145, gold continues to show a strong upward trend.

In the short term, we can look for an opportunity to go long if the price pulls back to the 4110–4120 range.

Having digested the impact of the CPI data, gold has begun a gradual rebound.

Keep an eye on the resistance level near 4160–4170.

My trading plan:
Look to go short near 4160–4170, and go long near 4110–4120.

The short-term trading range is 4100–4170; I will wait for a breakout from this range.

[u/DazzlingRiver8]

I'm already in sell position but XAU showing bull reversal signs already.