Gold Spot / U.S. DollarUpdated XAUUSD...more drop coming?
gold has lost a very important solid support level. this level hasn't been broken since JUN 2020.
by the time is moving into a local daily channel. we also have a hidden gap in lower timeframes caused
by last daily long Bar candle. so either this gap needs to fill or continuing the drop the next important
support level that price may hit would be around 1636$.
you can see 4h chart for more details.
Enjoy the market
Note
pulled back to the zone as expected. now this critical zone must be watched to see which side to follow
Trade active
pulled back from the areaTrade closed: target reached
as expected price declined during last week and seems bearish yet.
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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.