Trading Signals for GOLD we look to sell at $3,335

XAUUSD SELL PLAN @3330_3335

SL : @3345

TP : @3288
TP : @3253


Trade Analysis

Early in the American session, gold is trading around 3,307, showing signs of exhaustion.
A further technical correction toward the 21SMA is likely in the coming hours.

On the H4 chart, we can see that gold is trading within a bullish trend channel formed on April 10th. It is likely that in the coming hours the metal could continue its a rise to 3,335 and could even reach 3,338.

If gold breaks and consolidates below 3,288, we could expect a strong downward movement.
So, the metal could continue its sell with a target at 3,274, and the price could eventually reach the +2/8 Murray located at 3,248.

if gold rise towards the 8/8 Murray located at 3,335, we could expect confirmation first if the gold price consolidates above the +1/8 Murray, then it could reach this target.

The indicator is reaching overbought levels, so we will look for opportunities to sell below its high of 3,335, with targets at 3,288, 3,274, and finally 3,248.