XAUUSD down trend termination or just an other corrective leg?!
#XAUUSD has some trend reversal signs. First it completed an ABC corrective wave with a Regular Divergence between wave 3 and 5 in RSI(8) oversell area. It also reacted to the channel lower line and Monthly static support (gray area).
It's first resistance is at 1850$ where it reaches the inner line. And if it tends to reach the upper line of the channel it has a major Monthly resistance at 1921$.
But these are not enough to reverse the whole downtrend and it can be just and upward correction!
What do you think about #XAUUSD?!
It's first resistance is at 1850$ where it reaches the inner line. And if it tends to reach the upper line of the channel it has a major Monthly resistance at 1921$.
But these are not enough to reverse the whole downtrend and it can be just and upward correction!
What do you think about #XAUUSD?!
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