XAUUSD, 11 reasons for the price drop
11 solid reasons that you can rely on to start the price drop:
1. Strong negative divergence in RSI and MACD
2. The formation of Hanging Man candlestick (a bearish candlestick that initiates a downward trend)
3. The possibility of forming a double top
4. Strong resistance 1800 to 1810
5. Dealing with the trend line (probable channel) daily
6. The presence of two large gaps in the areas 1710 to 1727 and 1680 to 1702 (must be filled)
7. The necessity of pullback to the broken channel of 9 months and retesting it
8. Dealing with the 200 moving average
9. RSI and Stochastic are in the overbought range
10. NFP data that will benefit the dollar
11. Fundamentally, according to various data, the current price is very expensive.
1. Strong negative divergence in RSI and MACD
2. The formation of Hanging Man candlestick (a bearish candlestick that initiates a downward trend)
3. The possibility of forming a double top
4. Strong resistance 1800 to 1810
5. Dealing with the trend line (probable channel) daily
6. The presence of two large gaps in the areas 1710 to 1727 and 1680 to 1702 (must be filled)
7. The necessity of pullback to the broken channel of 9 months and retesting it
8. Dealing with the 200 moving average
9. RSI and Stochastic are in the overbought range
10. NFP data that will benefit the dollar
11. Fundamentally, according to various data, the current price is very expensive.
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