Time to Get Serious with 
GOLD XAUUSD
Weekly chart printed a reversal signal right before the election date. If this signals follows through and closes below $2600 by the end of the week, we could potentially see prices drop below $2400.
The monthly chart looks strong overall, withGOLD being slightly overextended beyond the second target and failing to reach the $2900 level. This timeframe also points to $2300 as a good area to consider buying back.
This will likely take weeks to come to fruition. Expect prices to potentially range around current levels, with $2750 being a key area to keep shorting until it breaks.
Q2 should bring some positive movement forGOLD, but for now, it seems like a local top, and a new consolidation phase above prev ATHs (All-Time Highs) is likely to form in the coming months.
GOLD XAUUSDWeekly chart printed a reversal signal right before the election date. If this signals follows through and closes below $2600 by the end of the week, we could potentially see prices drop below $2400.
The monthly chart looks strong overall, with
GOLD being slightly overextended beyond the second target and failing to reach the $2900 level. This timeframe also points to $2300 as a good area to consider buying back.This will likely take weeks to come to fruition. Expect prices to potentially range around current levels, with $2750 being a key area to keep shorting until it breaks.
Q2 should bring some positive movement for
GOLD, but for now, it seems like a local top, and a new consolidation phase above prev ATHs (All-Time Highs) is likely to form in the coming months.Note
Seems everyone's Long GOLD and just want higher instead of a retracement. $2400 is the Real Zone to Watch!No interactions on this post :)
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.
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.