XAUUSD GOLD SHORT STORY CONTINUES
Analysis: Gold has been pushed back strongly from the the 200DMA. The bullish momentum was pretty strong during the US session on Friday but the act has failed badly. I also marked a specific market structure on the chart, just as an explanation why I am expecting another sharp drop. We know that the 1720$ zone is a pretty strong support zone on the market, but I see a huge chance of another try to break it. Once we managed to break it the road will be open for the 1500-1450$ level.
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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.