XAUUSD; PROBABLE DROPDear Traders,
It is my pleasure to provide you with an update on the recent market activities of GOLD since the SVB Collapse.
There has been a substantial uptrend observed in the market, as the price of GOLD surged from 1809.90 to 1926.04, representing a notable 1,160 pips move. Based on our technical analysis, we anticipate a potential bearish reversal if the 1HTF candle fails to close above the resistance zone at 1921.63 - 1911.73. In this scenario, we expect sellers to push the price towards the downside to fill the gap created at the (1871.65 -1867.17 region) during the previous bullish run, before the continuation of the upward trend. However, if there is a close above the resistance region, we may see a break and retest pattern, followed by a bullish continuation.
Happy trading.
FILL-THE-GAP
UPST Moving up!UPST chart signals a reversal in price with increased volume. When the fed announces that interests rates will stay the same come up a little today at 2:30 pm, this lending company will come up hard. However if Fed raises interest rates by to much this will not happen, in fact the whole market will tank and the housing market will crash.... I don't see that happening just yet until the job numbers are better. I'm opening a short term call option on this ticker.
We will fill that gap!!!!
Upside down Bart Head forming!!