Hello Fellow Gold Investor/Trader, Here's a Technical outlook on Gold! Support the channel by giving us thumbs up and sharing your opinions in the comment section below! Chart Perspective The XAUUSD is breaking out of the neckline of a complex double-top pattern. Breaking out of complex double-top indicates a potential trend reversal from bullish to bearish....
On the daily timeframe, prices are forming lower lows and lower highs where we could see further downside in prices. On the H4 timeframe, a pullback to its resistance at 1.26870, in line with the 38.2% Fibonacci retracement and 78.6% Fibonacci extension could provide an opportunity to play the drop with 1.24564 as the support target. Ichimoku cloud is showing...
Price is currently above Support & Trend. As long as price stays above trend and support expect price to possibly but to next resistance 110.502. Overall expect UJ to sell towards support zone price 107.024 Long-term daily timeframe.
After analysis we can possible expect bearish market fro mtoday here. ENTRY: 107.650+- TP: 107.350 TP2: 107.100 SL: 107.950 Chart time frame - 1D Time for reaching TP - 8 - 72 hours Follow, Like, Share or Comment Thanks on supporting! All best!