GOLD possible move down
XAUUSD is extending its sideways consolidation on a daily chart. A bearish pin bar formed under $1834 supply area last week. We may consider selling near the resistance area while the price remains below $1834 with potential target $1800 and $1790 in extension. As long as the yellow metal holds above a very important 200-day SMA near $1800 there might be a pullback to the upside. A break below it and $1790 would trigger more sell off with a targets $1768 -$1752. We would be looking to buy Gold within $1752 -$1764 key support area.
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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.