Gold Market Situation

Gold [XAUUSD] has been rising without pause since December 12 and, analyzing the daily chart, we can see that the quote has now reached the November high area, 1294$-1299$ per ounce of gold. Here we also meet the resistance line of the downward trend from the last three months. Slightly higher is the November high level, at 1303$-1305.5$. So, according to theory, from here there is a higher probability that a new impulsive wave (downward) could begin within the downtrend. And if things do not develop this way, then from this triple resistance zone, together with the fact that the price has risen for almost three weeks without pause, we could expect at least a rejection downward, after which we place the Stop Loss order at zero, so we will close without losses or wait for profit in the support areas below, at 1260$ or 1245$ per ounce of gold.  

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