From a technical perspective, XAUUSD has been in a bullish trend for a while due to several factors. All good things come to an end, in a simialr way I'm expecting Gold to start it's trend reversal.
Gold is currently facing resistance at 2740-2750 levels.
I'm expecting Gold to turn bearish in the coming days and I also see a start of a trend reversal pattern forming in Gold in Day TF.
The levels are marked in the chart.
Good Luck with your trading plans!
Gold is currently facing resistance at 2740-2750 levels.
I'm expecting Gold to turn bearish in the coming days and I also see a start of a trend reversal pattern forming in Gold in Day TF.
The levels are marked in the chart.
Good Luck with your trading plans!
Note
I also see a reversal pattern in the Lower TF. I see the same Head and Shoulder Pattern in 1Hr.A clear close in 1hr below 2710 should help Gold move to 2685 levels.
Order cancelled
Neckline was not broken. Hence cancelling.
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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.