Last week, gold reached a new all-time high, almost hitting $2500.
However, the market started to reverse on Wednesday, and XAU/USD finished the week at $2400, forming a large pin bar on our weekly chart.
On the short-term chart, we also see that the recent ascending trend line has been broken, which also has bearish implications.
In my opinion, gold will drop below $2400, and selling rallies should be a good strategy.
However, the market started to reverse on Wednesday, and XAU/USD finished the week at $2400, forming a large pin bar on our weekly chart.
On the short-term chart, we also see that the recent ascending trend line has been broken, which also has bearish implications.
In my opinion, gold will drop below $2400, and selling rallies should be a good strategy.
Note
XauUsd dipped under 2400, as expectedHowever, we should be aware of the support that we are near from
Also, the trend is grossly bullish
📈 Forex & XAU/USD Channel:
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.