Gold direction🤔 up or down?
Gold made some massive bullish movement during the previous week, this movement was facilitated by the fundamentals underlying the USD either directly or indirectly (correlation effect). This week opens with a drag xauusd sluggishly dragging to the previous resistance around 1825-1828. This level has been proven to be a strong level following several reversal at the level. It is then logical to expect a bearish movement after seeing a momentum shift to the bears. Other the bulls might summon momentum and break this level then Gold probably breaks its strong resistance .
Kindly:
1. Gold is currently trading at a strong resistance, therefore expect a fakeout by the market maker
2. Patiently wait for a momentum shift if you're bearish on gold
3. Wait for a retest before entry
Kindly Share your opinion.
Kindly:
1. Gold is currently trading at a strong resistance, therefore expect a fakeout by the market maker
2. Patiently wait for a momentum shift if you're bearish on gold
3. Wait for a retest before entry
Kindly Share your opinion.
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