Short

🔥 XAU/USD - Gold will Fall to $1900 ? (READ THE CAPTION)

Updated

By examining the gold chart in the daily time frame, we can see that after the last analysis, the price of gold rose up to $2062 to collect more liquidity, and after reaching $2065, it faced a heavy fall, And the price on Friday and today was able to correct up to $2015 with a further drop! We saw more than 500 pips falling in less than 2 days! Now, only if the price stabilizes below $2040, we can expect more fall from gold! The next important demand range is between $1997 and $2007! The short-term downward targets for gold are $1973, $1965, $1932 and $1884, respectively!

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Best Regards , Arman Shaban

Note

As you can see, yesterday the price of gold fell again until $2015 and after that it was able to grow up to about $2029! According to my opinion, gold is far from very attractive ranges for trading, and for the SELL position, the best ranges are between $2034 to $2042 and $2025 to $2056! Personally, I will not have a SELL position on gold until gold reaches those limits! For the BUY position, I am monitoring the ranges of $2002 to $2007, $1997 and $1979 to $1986! I hope this analysis is useful for you!

ArmanShabanTrading

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