Gold: breakout or not to breakout - that is the question
Will Gold break or drop?
1-The XAU/USD is testing the resistance of the bearish channel.
2-There is also resistance at 1950: double rejection - Wednesday and Thursday.
3-The medium-term momentum is bearish.
4- There is no RSI bullish divergence.
Conclusion: Gold would likely drop to 1900!
1-The XAU/USD is testing the resistance of the bearish channel.
2-There is also resistance at 1950: double rejection - Wednesday and Thursday.
3-The medium-term momentum is bearish.
4- There is no RSI bullish divergence.
Conclusion: Gold would likely drop to 1900!
Price action, simple and clean!
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