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XAUUSD, H4 | Bullish Continuation

Edited on December 20, 2021
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Preference:

Prices are on bullish momentum and abiding to our daily ascending trendline. We see the potential for a bounce from our Pivot at 1798.292 in line with 23.6% Fibonacci retracement towards our 1st resistance at 1815.506 in line with 161.8% Fibonacci projection and 161.8% Fibonacci extension.

Alternative Scenario:

Alternatively, prices may dip further towards our 1st support at 1791.09 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci extension.

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