Chart of the day

XAUUSD is breaking above the strong upside resistance of 5130 and is testing now the extension resistance of 5150. A rejection here will lead to a pullback to 5080 which is now a strong upside support.

Only in the case of a clear confirmed break above 2150, we can see an extended fifth wave and a continuation higher to 2300. Until then a rejection from here will lead to a possible pullback only for a retest of the broken strong upside resistance.

_{Long trades could be opened here with a stop loss just below 2100 upon a confirmed break above 2150. Short trades could be open only in the case of a break below 2000 again.}