Gold- Will it break under support?
In both Monday's and yesterday's analyses I said that I'm bullish Gold but there are some red flags that we should be aware of and, indeed, yesterday, XauUsd could not stay above 1960, support at that moment.
At the time of writing the price is flirting with 1950 and it looks like it wants to make a new attempt to the upside.
In my opinion, this rally (if it materializes) will be short-lived and should be used as a good opportunity for selling.
1960 is resistance now and in that zone, I will look for entries.
A clear break under 1940 would expose 1915 and considering a stop above the recent high and 1:4 risk:reward could be achieved.
At the time of writing the price is flirting with 1950 and it looks like it wants to make a new attempt to the upside.
In my opinion, this rally (if it materializes) will be short-lived and should be used as a good opportunity for selling.
1960 is resistance now and in that zone, I will look for entries.
A clear break under 1940 would expose 1915 and considering a stop above the recent high and 1:4 risk:reward could be achieved.
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t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
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