Today on Gold: XAUUSD
Bias: Sell 🔴 (If Price Breaks Below 2892 - 2890)
Reasons for Sell Bias:
1️⃣ Rejection from 2940 Resistance
• Price reached a key resistance zone and strongly rejected downward, showing seller dominance.
2️⃣ Bearish Momentum & Breakdown
• The market has been making lower highs and lower lows, indicating a shift to a downtrend.
3️⃣ Potential Break of 2892 Support
• If price breaks below 2892 - 2890, a further drop toward 2880 and lower is likely.
Reasons for Sell Bias:
1️⃣ Rejection from 2940 Resistance
• Price reached a key resistance zone and strongly rejected downward, showing seller dominance.
2️⃣ Bearish Momentum & Breakdown
• The market has been making lower highs and lower lows, indicating a shift to a downtrend.
3️⃣ Potential Break of 2892 Support
• If price breaks below 2892 - 2890, a further drop toward 2880 and lower is likely.
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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.