Today on Gold: XAUUSD
Bias: Sell 🔴
Reasons for Sell Bias:
1️⃣ Rejection at Resistance (2862 - 2870)
• Price has reached a key resistance zone and is showing signs of rejection with a strong bearish candle.
2️⃣ Overextended Bullish Move
• Gold has been in a strong uptrend, but this sharp rally might need a pullback before continuing higher.
3️⃣ Bearish Candlestick Formation
• The latest candle is a strong rejection wick, indicating that buyers are struggling and sellers are stepping in.
Reasons for Sell Bias:
1️⃣ Rejection at Resistance (2862 - 2870)
• Price has reached a key resistance zone and is showing signs of rejection with a strong bearish candle.
2️⃣ Overextended Bullish Move
• Gold has been in a strong uptrend, but this sharp rally might need a pullback before continuing higher.
3️⃣ Bearish Candlestick Formation
• The latest candle is a strong rejection wick, indicating that buyers are struggling and sellers are stepping in.
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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.