XAU/USD - 1H - Breakout
XAU/USD is in a bearish trend on 1H and 1D. On 1H, the price action has just broken out of the Rising Support and Horizontal Support. The Bearish bias is based on the following confluence:
Expecting bears to push prices lower towards Horizontal Support.
- Rising Support broken
- Horizontal Support broken
- Strong bearish candles on breakout
- Bearish Divergence on RSI
Expecting bears to push prices lower towards Horizontal Support.
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