XAUUSD Technical Analysis 13.03.2023 1h chart

– Previous Weekly candle closed Bullish at 1867.100 with a decent bottom wick indicating price grabbed Liquidity on the higher timeframe
– Buys on close above 1870.400 targeting Daily Resistance at 1875.500, Leaving Runners to the 1h previous Support formed on 9th February 2023 at 1882.000.

– Sells on close below 1861.000 targeting 1h Support at 1855.300, Leaving Runners to the 4h previous Support formed on 6th March 2023 at 1851.300.
– As Weekly Support has been respected there is a higher probability for the new Weekly candle to continue Bullish.