GOLD(XAUUSD): BEARISH TREND CONTINUES ✨✨
📉Gold is experiencing a downward trend on a 4-hour chart and is consistently declining within a descending parallel channel.
At present, the pair is nearing a cluster of resistance, including a horizontal resistance and the resistance line of the descending channel.
I anticipate that the decline will continue once it undergoes a retest, and we can expect a bearish continuation towards the support level at 1980.
At present, the pair is nearing a cluster of resistance, including a horizontal resistance and the resistance line of the descending channel.
I anticipate that the decline will continue once it undergoes a retest, and we can expect a bearish continuation towards the support level at 1980.
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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.