It has run into heavy selling at the lower range of the highest volume trading day of the past 2+ years (11/04/2021). This level is marked by a purple rectangle.
We may break above, temporarily, but the 271.18 level is one to watch for rejection back to the lower gold trendline, and possibly beyond.
Further weakness in the overall market will only add to the pressure at these levels.
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.
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.