Will GOLD (XAUUSD) Drop Lower?
We observed two notable bearish breakouts in 📉Gold on the intraday and daily charts.
First, the price broke through a key daily horizontal support level. Furthermore, it closed below a critical ascending trend line.
This breakdown of both horizontal and vertical structures has now established an expanding supply zone.
Short positions are recommended from this zone, with expectations for a continued bearish trend targeting 2720.
First, the price broke through a key daily horizontal support level. Furthermore, it closed below a critical ascending trend line.
This breakdown of both horizontal and vertical structures has now established an expanding supply zone.
Short positions are recommended from this zone, with expectations for a continued bearish trend targeting 2720.
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