XAUUSD - Short
Going short on Gold.
There are several bearish indications showing a downward bias. The resistance has shown significance in the past and since the price got rejected from there while maintaining the rising wedge pattern, this strongly suggests that a price drop can be expected soon. There are two possibilities:
1. Price bounces from the support level
2. Price falls through the support level
Although if the price breaks the resistance and sustains above it, it will be a good sign to go long.
There are several bearish indications showing a downward bias. The resistance has shown significance in the past and since the price got rejected from there while maintaining the rising wedge pattern, this strongly suggests that a price drop can be expected soon. There are two possibilities:
1. Price bounces from the support level
2. Price falls through the support level
Although if the price breaks the resistance and sustains above it, it will be a good sign to go long.
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