2024-06-26 XAUUSD Bearish Case: Correction to 2150
Updated
- Gold is holding lower price but still no downside breakout
- There are surely some trapped bulls trading off the daily chart: there were several good looking bull signal bars in recent weeks.
- The 2150 price target is based on weekly chart - there are some bears trapped at this level.
- There are surely some trapped bulls trading off the daily chart: there were several good looking bull signal bars in recent weeks.
- The 2150 price target is based on weekly chart - there are some bears trapped at this level.
Note
Looks like we tested to the upside so many times and failed. If price don't drop from here I'm surprised.Note
Gold shouldn't be rallying that strong at this point in the pattern. When it breaks 2315-2317 presented scenario is dubious.Note
When it breaks 2315-2317 then this pattern is invalid and the rally can extend to 2375. So watch out and put stops to break even if you hold shorts.
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