Gold (XAUUSD) Market Experiences Buyside Delivery

Market Analysis – March 30

Gold (XAUUSD) is currently experiencing buy-side delivery in the market. Gold experienced sell-side delivery from March to October of the previous year. Gold’s value fell from a 2051.0 supply level to a 1677.0 demand level.

Gold Key Levels:

Demand Levels: 1811.0, 1967.0, 1627.0
Supply Levels: 2051.0, 2120.0, 2160.0

XAUUSD Long-Term Trend: Bullish

The decline in the price of XAUUSD was guided by the bearish trendline. At each test of the bearish trendline in April, August, and October, the price of gold fell. The decline in the price of gold was halted at two major support levels. The support level of 1811.0 paused the decline of the market during May and June. After multiple tests of the support level, the buyers gave way to the selling pressure of the bears.

The price of Gold rose rapidly from July into August. The price of Gold rose from 1697.0 to 1811.0. The ascent was short lived as the Bears were still in control of the market. The market paddled back and forth until the price plunged to 1627.0.
After a triple test of the supply zone of 1627.0, the price of Gold rose rapidly.

XAUUSD Short-Term Trend: Bullish

Gold witnessed a pullback in February. The launch from the support level of 1811.0 has broken the supply level of 1957.0. The market is currently drawing toward the liquidity pool, which is resting at the 2051.0 resistance level. A bullish breakout is anticipated as a symmetrical triangle has formed on the 4-hour chart.

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