GOLD - USD - 15 min. - Technical analysis published on 11/04/202
My analysis
The bearish trend is currently very strong for GOLD - USD. As long as the price remains below the resistance at 2,743.65 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 2,725.02 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2,714.54 USD as an objective. Crossing it would then enable sellers to target 2,695.91 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend
The bearish trend is currently very strong for GOLD - USD. As long as the price remains below the resistance at 2,743.65 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 2,725.02 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2,714.54 USD as an objective. Crossing it would then enable sellers to target 2,695.91 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend
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