XAUUSD Technical Analysis 29.12.2023 1h chart

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– Previous Daily candle closed strong Bearish around 2065.300 forming Daily Resistance around 2077.200 as current Weekly candle retraces respecting recent Weekly Resistance formed on 4th December 2023.
– Buys on close above 2069.000 targeting 4h Resistance formed around 2075.000, Leaving Runners to the 30min Resistance formed around 2080.000.
– Sells on close below 2061.500 targeting 1h Support formed around 2056.500, Leaving Runners to the 30min Support formed around 2051.700.
– As we approaching end of the year volume starts to slow down and market becomes volatile so it is extremely important to manage risk and wait for a much stronger confirmation before opening position (s).

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