Gold ( XAUUSD ) Outlook !!!
https://www.tradingview.com/chart/8zkc9xZA/?symbol=EIGHTCAP%3AXAUUSD
Gold (XAUUSD) is navigating a descending triangle pattern and has rebounded from its upper edge. The 50-period moving average adds an additional layer of resistance for the asset.
If it breaks above the 2345 resistance level, it could clear the path to the 2365/2390 resistance
Conversely, a rebound from the upper edge may trigger a decline to the 2310/2285 support level.
The overall trend is positive, yet a dominant buyer has not emerged. The market is in anticipation of news. On a local scale, the trend is downward. To validate a shift to a local upward trend, the price must surpass and stabilize above the range of 2354 - 2364; this would set the stage for a potential rise to 2400. However, should the price fall below 2328, it could trigger widespread market concern.
Gold (XAUUSD) is navigating a descending triangle pattern and has rebounded from its upper edge. The 50-period moving average adds an additional layer of resistance for the asset.
If it breaks above the 2345 resistance level, it could clear the path to the 2365/2390 resistance
Conversely, a rebound from the upper edge may trigger a decline to the 2310/2285 support level.
The overall trend is positive, yet a dominant buyer has not emerged. The market is in anticipation of news. On a local scale, the trend is downward. To validate a shift to a local upward trend, the price must surpass and stabilize above the range of 2354 - 2364; this would set the stage for a potential rise to 2400. However, should the price fall below 2328, it could trigger widespread market concern.
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