Mihai_Iacob

Gold has confirmed the false break, now what?

Singkat
OANDA:XAUUSD   Emas Semerta / Dolar A.S.
Yesterday I said that gains should be limited for Gold (in fact I kept saying in my past posts that I believe Gold is bearish) and a drop under 1830 will confirm a false break.
Indeed, the price has reversed and has dropped under 1830 confirming a false break to the upside.
At this moment Gold is trading at 1816, under this important level and also under the ascending trend line that kept price elevated from the beginning of the year and I believe the 1850 zone is now a lower high.
With this in mind, I'm expecting continuation to the downside and traders should look to sell rallies towards the mentioned resistance
The first level of interest for bears would be 1785-1790 zone support.
A new high above the previous one would negate this scenario.


🚀 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
Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.