XAUUSD 12 July 2024 SELL ANALYSIS

12 Tem

The chart displays a clear bearish signal as indicated by the series of red arrows marking significant resistance levels. The price has broken below an ascending channel, suggesting a potential trend reversal. Additionally, it has failed to sustain above the yellow resistance zone and is currently trading below this critical level. The target profit levels (TP 1, TP 2, TP 3) suggest a strategy aiming for further declines, making a sell position justifiable.