GOLD SHORTS (Holding)
Simply Targeting 2,368 as first TP
Possible continuation to 2,299 depending on volume in the next few Major Sessions. London, NY
Not a big indicator guy but this is is the overall sediment for the next 4 hours.
The current outlook for XAU/USD (Gold/US Dollar) over the next 4 hours appears bearish. Technical indicators and market sentiment suggest a strong sell position for gold.
Technical Analysis: Various technical indicators are showing a strong sell signal, including RSI, MACD, and moving averages over multiple timeframes (Investing.com) (TradingView).
Market Sentiment: Rising Treasury yields and a strengthening US dollar have been putting downward pressure on gold prices. Gold has recently pulled back below $2400 (FX Empire) (DailyFX).
Given these factors, the trend for XAU/USD is expected to remain bearish in the short term.
Possible continuation to 2,299 depending on volume in the next few Major Sessions. London, NY
Not a big indicator guy but this is is the overall sediment for the next 4 hours.
The current outlook for XAU/USD (Gold/US Dollar) over the next 4 hours appears bearish. Technical indicators and market sentiment suggest a strong sell position for gold.
Technical Analysis: Various technical indicators are showing a strong sell signal, including RSI, MACD, and moving averages over multiple timeframes (Investing.com) (TradingView).
Market Sentiment: Rising Treasury yields and a strengthening US dollar have been putting downward pressure on gold prices. Gold has recently pulled back below $2400 (FX Empire) (DailyFX).
Given these factors, the trend for XAU/USD is expected to remain bearish in the short term.
Note
SL HIT - GOLD NEVER HELD BELOW HIGHLIGHTED ZONE! BULLISH SINCE
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.