XAU/USD Analysis: Gold is Pushing Higher

November 15, 2017 14:13

As I have showed in my previous Gold Spot analysis, the price rejected from the POC zone, making a push higher. The price followed the continuation move and now we have another POC formed for possible new bullish swing. If the price stays above 1283.90 we might see a continuation towards 1287.70 and 1288.44. Breakout might happen above 1288.44 towards 1290.37 and 1293.91. However in case of retracement pay attention to 1278.15-1280.05 POC zone as the price might reject towards H3 then. So as long as the price is above D H3 and W H3, the bias is bullish.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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Gold Instrument