OUR TECHNICAL ANALYSIS POINTS OUT THAT WE WILL BE SHORTING GOLD/XAUUSD AND THE REASONS ARE:
1. The market broke our ascending channel to the downside
2. It formed a bearish flag which indicated a continuation move to the downside
3. The market then broke below our flag and a very strong zone of support
4. We now anticipate for price to retest our resistance zone and continue dropping all the way down to our horizontal line at the bottom
1. The market broke our ascending channel to the downside
2. It formed a bearish flag which indicated a continuation move to the downside
3. The market then broke below our flag and a very strong zone of support
4. We now anticipate for price to retest our resistance zone and continue dropping all the way down to our horizontal line at the bottom
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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.
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.