XAU/USD FOMO. Could it drop?
XAUUSD just reached a new all-time high, which could mean that people will be selling their physical and shares of gold to cash out their profits.
RSI is showing a strong signal that a drop is near, as It's in an overbought region. It could reach 2000 before dropping but it's impossible to know for sure.
Fib retracements show that it could drop to the next support which is around 1785
Disclaimer: This analysis is based on my thoughts and should be followed with your own responsibility.
RSI is showing a strong signal that a drop is near, as It's in an overbought region. It could reach 2000 before dropping but it's impossible to know for sure.
Fib retracements show that it could drop to the next support which is around 1785
Disclaimer: This analysis is based on my thoughts and should be followed with your own responsibility.
Disclaimer
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