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🔥 XAU/USD - Will Gold fall Heavily ? (READ THE CAPTION)

Updated

By checking the gold chart in the daily time frame, we can see that the price was able to grow to $2195 last week and finally the weekly candle closed at $2179! Today, we saw the price rise to $2189, and after that, gold was accompanied by a price correction and fell to $2176! Pay attention, if the price stabilizes below $2200, we can see more correction of gold! But notice that in the last 12 days we didn't have even one bearish candlestick, and we have to wait for at least 2 powerful bearish candlesticks for further decline!

Note

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Note

As you can see, after 7 daily bullish candles, finally, yesterday, gold could not record a ceiling higher than the previous day, and today the price penetrated below the LOW price of yesterday (i.e. $2175) and is currently trading in the range of $2179. is ! These are the first signs to expect a price drop! As you know, we will have CPI statistics today. If the actual is more than the predicted rate, we will probably see a heavy fall in gold!

Note

Only 10 minutes left until the announcement of CPI statistics! Gold has dropped more than 100 pips since I posted the analysis, and if it stabilizes below $2177, we can expect the price to drop further to lower levels! The possible targets of this drop are $2164, $2157 and $2144 respectively!

Note

: First Target Reached ~ $2164 ✅

Note

: Second Target Reached ~ $2157 ✅

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