XAUUSD Analysis
Monthly candlestick chart shows bullish trend despite long wick from all-time high.
Weekly chart has resistance at the top and a rejection has been observed.
Closing above 2010 on the weekly chart could indicate upward momentum.
Daily chart displays a clear downward price action.
If any candle closes below 2000, there could be a clear path to 1980 on the 4-hour chart.
2000 to 1980 range was previously a volatile area.
Increase in trading volume could result in further decline to 1950.
Weekly chart has resistance at the top and a rejection has been observed.
Closing above 2010 on the weekly chart could indicate upward momentum.
Daily chart displays a clear downward price action.
If any candle closes below 2000, there could be a clear path to 1980 on the 4-hour chart.
2000 to 1980 range was previously a volatile area.
Increase in trading volume could result in further decline to 1950.
Penafian
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