XAUUSDMendel45 I did my analysis few hours ago everybody was shouting sell sell, now its going up u come here and say my analysis is wack. meh. ok mr pro
GOLD fundamentally, gold is bearish. low interest rate and low inflation will reduce the demand for gold and thus lower prices. trump winning will fuel this for a short time.
technically, gold is bearish, too. The price recently broke below an upward trendline, indicating a shift to a bearish sentiment. The current bounce seems to be a retracement rather than a trend reversal.
If Gold does bounce to the 2,700 - 2,710 level, observe the price action closely. Look for a clear sign of rejection (e.g., bearish candles on a 4H or 1D timeframe) before shorting
If Gold gets rejected at 2,700 - 2,710, the next support levels to watch would be around:
~2,660 (near-term support).
~2,620 and possibly down to 2,580 - 2,600 if bearish momentum continues.