XAU/USD Bearish Slide
I forecasted a falling wedge on XAU/USD a few days ago, but because GOLD couldn't touch the underlined lower trendline, the price got corrected at a dynamic support level which automatically switched the Wedge to a Symmetrical triangle.
The breakdown that happened on Tuesday was due to news ascertaining the fact that the bears are still in the game (fakey). However, any further break of the lower downtrend would confirm the bearish trend and could run the price down to the previous M/M support level at 1780.
Watch out for Gold, it could be a nice sell.
The breakdown that happened on Tuesday was due to news ascertaining the fact that the bears are still in the game (fakey). However, any further break of the lower downtrend would confirm the bearish trend and could run the price down to the previous M/M support level at 1780.
Watch out for Gold, it could be a nice sell.
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.