XAUUSD SELL

XAUUSD

Over the past few weeks, gold has continued to break structural levels and create higher highs, adhering to the upward trendline. We have reached another pivotal area on Gold. Price is showing early signs of exhaustion on the smaller time frames. We also have multiple areas of liquidity created by the price rejections that form new micro levels of support. If price fails to break the highs the 23.6 and the 38.2 are the next significant areas of support.

Alternative Scenario:
Price could also generate a short-term pullback to gather enough steam to break the highs. On the 15-minute time frame, the price is consolidating, printing a potential bull flag. Let's wait to see if price closes above or below this area to get a better idea about the turnout of this trade.