In my weekend analysis, I said that the strong bearish engulfing (visible on the weekly chart) that not only engulfs the rise from the beginning of the year, but 5 weeks of trading is a strong indication that the most probable move is down.
At this moment, Gold is trading at 1787, slightly above support and potential rallies from this support should be considered a good opportunity for bears.
1805-1810 zone would be an ideal zone for selling and only XauUsd back above 1830 would negate this strongly bearish scenario
At this moment, Gold is trading at 1787, slightly above support and potential rallies from this support should be considered a good opportunity for bears.
1805-1810 zone would be an ideal zone for selling and only XauUsd back above 1830 would negate this strongly bearish scenario
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.