XAUUSD

Gold (XAU/USD) is displaying a squeezed appearance between major trend lines after breaking its steeper trend. Although it is currently trying to maintain a positive momentum above the pivot level, the $3466 level above and especially the $3477 area where the blue trend line passes form strong resistance. On pullbacks, the $3392 support is of critical importance. Gold, which remains sensitive to geopolitical developments, is likely to continue its squeezed movement between trend lines.