Gold's Reversal Signals: Why I'm Watching for a Drop Below 2700?
Yesterday, I mentioned that a correction in 
XAUUSD seemed imminent, even though we didn’t yet have confirmation at that moment, and I emphasized that buying no longer appeared attractive at these levels.
Indeed, after reaching another all-time high of 2740 during the day, a strong sell-off followed, pushing the price down to the 2715 zone.
Currently, the bulls are back in control, but in my view, this looks more like a natural rebound aligned with the broader trend, rather than a renewed surge in buying interest.
The 2740 level now serves as significant resistance, and a fresh reversal from this zone could very well occur.
For the bulls, the key support level lies in the 2725-2730 range. A drop below this zone would signal the beginning of a potential new downward move.
From my perspective, I'm focused on selling opportunities.
A break below 2700, with a move toward the 2685-2690 support range, is what I’m closely watching for.
XAUUSD seemed imminent, even though we didn’t yet have confirmation at that moment, and I emphasized that buying no longer appeared attractive at these levels.Indeed, after reaching another all-time high of 2740 during the day, a strong sell-off followed, pushing the price down to the 2715 zone.
Currently, the bulls are back in control, but in my view, this looks more like a natural rebound aligned with the broader trend, rather than a renewed surge in buying interest.
The 2740 level now serves as significant resistance, and a fresh reversal from this zone could very well occur.
For the bulls, the key support level lies in the 2725-2730 range. A drop below this zone would signal the beginning of a potential new downward move.
From my perspective, I'm focused on selling opportunities.
A break below 2700, with a move toward the 2685-2690 support range, is what I’m closely watching for.
Trade active
XauUsd is in my sell zone given by yesterday's high.I've opened a sell trade with a target in yesterday's low
CONFIRMATION FOR A DROP COMES WITH A BREAK UNDER 2730 THOUGH
Trade closed: stop reached
SL hit.In spite of this outcome, I still belive a strong retracement will follow, so, I m looking to re-enter
📈 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.