XAUUSD BEARISH
1. Gold rebounded from the downtrend to 2720, which looked like a strong V-shaped reversal. However, the second rally failed to make a new high, still encountering resistance near 2720. It can be confirmed that the 4-hour uptrend has been invalidated.
2. Following this, gold experienced a decline, breaking below the low point of the consolidation zone (2605), stabilizing near 2585 and rebounding. This may form a descending flag pattern.
3. If the rebound fails to break through 2640, a bearish outlook will be considered at 2645.
4. If the rebound rises above 2720, gold will shift to a bullish outlook.
(Note: It is important to note that the 50-period moving average has crossed below the 200-day moving average, and the MACD double lines are below the zero line.)
2. Following this, gold experienced a decline, breaking below the low point of the consolidation zone (2605), stabilizing near 2585 and rebounding. This may form a descending flag pattern.
3. If the rebound fails to break through 2640, a bearish outlook will be considered at 2645.
4. If the rebound rises above 2720, gold will shift to a bullish outlook.
(Note: It is important to note that the 50-period moving average has crossed below the 200-day moving average, and the MACD double lines are below the zero line.)
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