XAUUSD
Updated
Before we dive in, review my previous Gold analysis.
LINK TO ANALYSIS
A THREAD BELOW
LINK TO ANALYSIS
A THREAD BELOW
Comment
On the daily, gold has been finding it hard to break above the 1940//1962 region since September 2020. There was still a rejection at that previous LH region earlier this year even after it seemed to had broken out of the downtrend to continue its bull run. There are currently rejections at the 1826//1849 region which I believe price might be heading to test 1940//1962 region again after breaking out of this trend.
Comment
Zooming out still on the daily timeframe, you can see that Gold was up trending and the channel, now appearing like a flag. However, prepare to short gold after breaking the 1748//1766 region. This is financial advice🤣. Lol🤣🤣.
However, always DYOR (Do Your Own Research) before making any financial decision. Ignore the joke above 😀. Don't forget to leave your thoughts in the comment section below. Safe trading folks.
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