XAUUSD approaching temproray top? Gold and risk sentiment
Updated
Quick plot to watch upcoming resistance zones for Gold.
Obviously the risk sentiment (and thus stock markets) will have a lot to do with this asset.
I am expecing a ''Dead Cat'' bounce in the Stock markets very soon, and thus a dip in Gold.
I do expect the equity markets to go lower after the bounce, and that is when Gold should reach the higher target.
OR maybe the equity markets CRASH tomorrow and Gold shoots off the top of the chart.
So this plot and my entry thoughts will be based very much on what stocks do.
Obviously the risk sentiment (and thus stock markets) will have a lot to do with this asset.
I am expecing a ''Dead Cat'' bounce in the Stock markets very soon, and thus a dip in Gold.
I do expect the equity markets to go lower after the bounce, and that is when Gold should reach the higher target.
OR maybe the equity markets CRASH tomorrow and Gold shoots off the top of the chart.
So this plot and my entry thoughts will be based very much on what stocks do.
Note
Nice short! Chart above is not advancing, but we had a very strong rejection at the first zone expected Note
Close up: 
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.