Mihai_Iacob

Is Gold preparing for a deeper correction?

Satış
OANDA:XAUUSD   Spot Altın/ABD Doları
In my yesterday's analysis, I said that even though the longer-term trend is still bullish, the evening star candle formation from Monday could be an indication that bulls are tired and we can assist to a range trading day.
Indeed, XauUsd has spent the day between the very well-defined boundaries of this range...
Looking closer at an H1 chart we can see that the yellow metal is still contained in this range, however, bulls seem tired and a deeper correction could follow.
Technically speaking, 1760-1765 is a very important level, defined by 2 rising trend lines and the horizontal level and a break here could lead to an acceleration to the downside.
My preferred scenario is to sell rallies in anticipation of a such break with Gold back above 1800 negating this outlook.

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.