XAUUSD D chart is apparently a double-top pattern
Fibonacci is based on 3/8 high point (2070) and 7/22 low point(1680)
After pulling back to Fibo73.6 (1783) and failing to keep uptrend, continue to go to the previous low.
20MA is about to cross below 50MA
200MA begins to bend downward, the long-term bearish confirmed.
Volume has significantly increased while downtrend.
The pink block 1670-1690 was the neckline and also the support zone in 2020/06, 2021/03, 2021/08
While a break below it, should open the door to the next support, Fibo 127.2 (1575)
Just personal opinion, not investment advice.
Any suggestions and feedback are welcome.
Fibonacci is based on 3/8 high point (2070) and 7/22 low point(1680)
After pulling back to Fibo73.6 (1783) and failing to keep uptrend, continue to go to the previous low.
20MA is about to cross below 50MA
200MA begins to bend downward, the long-term bearish confirmed.
Volume has significantly increased while downtrend.
The pink block 1670-1690 was the neckline and also the support zone in 2020/06, 2021/03, 2021/08
While a break below it, should open the door to the next support, Fibo 127.2 (1575)
Just personal opinion, not investment advice.
Any suggestions and feedback are welcome.
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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.