#XAUUSD has repeatedly faced rejection above the 2949 level, forming a strong bearish zone. Currently, the market awaits a decisive breakout.
A breakout above 2949 could trigger a bullish toward the next decline zone at 2958, where profit-taking may occur. However, a pullback to 2942 is expected before further bullish continuation.
If the price fails to sustain above 2949 and drops below 2935, strong selling pressure could push toward 2916, indicating a deeper bearish trend.
A breakout above 2949 could trigger a bullish toward the next decline zone at 2958, where profit-taking may occur. However, a pullback to 2942 is expected before further bullish continuation.
If the price fails to sustain above 2949 and drops below 2935, strong selling pressure could push toward 2916, indicating a deeper bearish trend.
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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.