Stops and liquidity have been hunted above the resistance zone, suggesting that gold (XAUUSD) can continue its downward trajectory towards the $2315 level.
The chart shows a bullish trendline, and a break below this trendline will serve as a confirmation for initiating sell positions. This break would indicate a shift in market sentiment, reinforcing the bearish outlook. Traders should watch for this trendline crossing as a key signal for entering short trades, targeting the identified support level at $2315.
Additionally, the previous three bullish legs used the $2310 zone as the base, adding further significance to this support area.
The chart shows a bullish trendline, and a break below this trendline will serve as a confirmation for initiating sell positions. This break would indicate a shift in market sentiment, reinforcing the bearish outlook. Traders should watch for this trendline crossing as a key signal for entering short trades, targeting the identified support level at $2315.
Additionally, the previous three bullish legs used the $2310 zone as the base, adding further significance to this support area.
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