Massive Drop in XAU/USD!
On the h1 chart, you can see that XAU/USD is signaling significant downward pressure by breaking through the weekly S1 (1,722) barrier. we cannot exclude a temporary rebound.
Before continuing to decline, gold may return to test and retest the S1 (1,722) level. The bias is still bearish as long as it remains below the downtrend line.
Before continuing to decline, gold may return to test and retest the S1 (1,722) level. The bias is still bearish as long as it remains below the downtrend line.
Trade closed: target reached
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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.