Gold (XAUUSD), to Short to 1935 Before a upside surge to 1954
Gold has been a bullish movement since it broke the 1900/1904 support level on 23rd August.
Yesterday, it managed to overcome the EMA-200 on the 4HR Time frame upside to the 1948.98 price which was rejected by a daily bearish trendline and also the upper trendline of the recent ascending channel.
Price will continue to short by price action to the next significant support (1935) before a possible momentum build up to the 1963.
If the 1935 fails to support the bears, the price could fall further to 1925.
Yesterday, it managed to overcome the EMA-200 on the 4HR Time frame upside to the 1948.98 price which was rejected by a daily bearish trendline and also the upper trendline of the recent ascending channel.
Price will continue to short by price action to the next significant support (1935) before a possible momentum build up to the 1963.
If the 1935 fails to support the bears, the price could fall further to 1925.
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