Gold Rally Cracks: To What Extent XAU/USD Could Fall?
Two potential price objectives come up from the recent price action. On the hourly chart, the break below a horizontal trendline from the end of May has triggered a minor descending triangle, with a price objective of around 1890.
On the daily charts, the rebound at the beginning of the month was feeble, retracing only 38.2% of the May decline. A measured price objective of the May downs, points to a fall toward the 200-day moving average (now at about 1852).
XAUUSD SELL LIMIT 1927 - 1931 💯💯
✅ TP1: 1921
✅ TP2: 1916
✅ TP3: 1909
🛑 SL: 1936
Note
Please wait patiently for the brothersNote
Gold is running in the right direction
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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.