XAUUSD Technical Analysis 09.01.2023 1h chart

– Previous Weekly candle closed strong Bullish at 1866.300, Friday Daily candle also closed Strong Bullish breaking recent Daily Resistance formed on Thursday 5th January 2023 at 1854.800 forming new Daily Support at 1832.600.
– Buys on close above 1870.000 as price breaks and close above the previous Weekly High targeting 1h Resistance at 1877.200, Leaving Runners to the Daily Resistance formed on 9th May 2022 at 1884.000.
– Sells on close below 1860.400 targeting 1h previous Resistance at 1852.800, Leaving Runners to the 1h Support formed at 1843.500.
– Despite the weekly closing strong Bullish, Ideally is to wait for price to form a retracement on the lower timeframe to form new Support to then possibly look for Buys to target higher timeframe level of Resistance on the Weekly at 1890 as the previous Weekly Support.