Gold (XAU/USD) Hits Resistance and Faces Reversal – Is the Sell-Off Beginning?
Gold surged to test the upper boundary of its ascending channel, touching key resistance. However, bullish momentum seems to be fading as sellers step in, pushing prices lower. This could signal the start of a pullback, potentially targeting mid-channel support or even the 200 EMA.
If buyers fail to reclaim control, we may see a deeper correction. Eyes are now on the next key support levels—will gold find strength, or is a larger sell-off underway?
Gold surged to test the upper boundary of its ascending channel, touching key resistance. However, bullish momentum seems to be fading as sellers step in, pushing prices lower. This could signal the start of a pullback, potentially targeting mid-channel support or even the 200 EMA.
If buyers fail to reclaim control, we may see a deeper correction. Eyes are now on the next key support levels—will gold find strength, or is a larger sell-off underway?
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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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.