XAU: Bearish Trends & Reversal Potential
Updated
The price of XAU (gold) has been exhibiting bearish movements due to low demand compared to previous periods. However, this does not guarantee a sustained bearish trend. It is possible for the price to reach around 1800, as per previous targets, but global events or negative economic factors could reverse the bearish sentiment and make XAU bullish again. From a technical standpoint, the price has broken out of a pattern and may retrace towards targets around 1900 and 1895
Trade active
Trade closed: target reached
Related publications
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.