Lingrid | GOLD expecting Short-Term RETRACEMENT from ATH zone for OANDA:XAUUSD by Lingrid

Lingrid | GOLD expecting Short-Term RETRACEMENT from ATH zone

As I mentioned yesterday, the moved higher, resulting in a bearish divergence on the 4H timeframe. On the weekly timeframe, we observe even more significant bearish divergence. Given that we have high-impact news today, we should exercise caution, as the price may experience spikes. Currently, the price is testing the channel border, and I expect a pullback that might close below the November high. If the market fails to close below the November high, then next week, the price may continue to move to higher levels. My goal is support zone around 2725

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Lingrid

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