GOLD (XAUUSD): Have You Seen This BEAR MOVE?! What is Next 🥇
Updated
Hey traders,
I guess we all were surprised how the price dropped yesterday.
With NPF Gold lost almost 2,5%.
What's now?
Ahead, a key structure support and summer's low.
1750 - 1760 is a demand area.
I will look for an intraday confirmation within that zone to buy catching a pullback.
What is confirmation?
To me, confirmation is a reversal pattern (h&s/double bottom/triangle/wedge)
being formed within an underlined zone and its neckline breakout.
Closest support for target - 1787.
Alternatively, if you are looking for shorting opportunities,
consider a bearish breakout (daily candle close below) of an underlined yellow structure.
It will push the market to lower structure levels.
Have a great weekend!
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