Bearish Trend Reversal on Gold (XAU) After Double Top
A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset's price falls below a support level equal to the low between the two prior highs.
After Gold has been bullish for the whole week, we can finally see a trend reversal here after the price hit a resistance from 14th of April. At the same time, the world seems to be a bit more calm and the first countries are already loosening up their lockdown procedures.
This could be a moment where the need to put peoples assets in the safe haven of gold declines and where gold will slowly fall again.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
After Gold has been bullish for the whole week, we can finally see a trend reversal here after the price hit a resistance from 14th of April. At the same time, the world seems to be a bit more calm and the first countries are already loosening up their lockdown procedures.
This could be a moment where the need to put peoples assets in the safe haven of gold declines and where gold will slowly fall again.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
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.