Gold has collapsed downwards, but has strongly rejected the 1810 mark. Expect consolidation, a small push down, and then a break to the upside.
Gold failed to break through on the upside today. Lower supports are now being broken. Looking for retracement and then drop.
Gold has recovered over 1800 and now looks to push price up. Looking for price to pullback to 1806/1805 area. If price rejects here, looking for TP1 at 1817 and TP2 at 1826, with an upside break of the latter indicating a bullish breakout.
Bulls look to push price towards 1900, but before then it is possible the market will retrace to key levels marked on chart. Watch out for all 4 scenarios for possible entries. Market is overbought on stochastic and cross in moving average favours short-term bearish action before bullish momentum continues. Dollar index is currently pushing upwards meaning...
XAU/USD looks to push towards, and past 1850 Entry: as close to 138.790 as possible TP1: 1845.021 (close 60% of total lot size and move SL to break even) TP2: 1850.016 (close 30% of total lot size) TP3: 1860.358 (free for all for remainder of position) SL: 1831.096