Down we go with XAUUSD
After ending its large retest on the bullish rally, price was unable to break the fundamental resistance trend line from the all time high, tapping into 1950.
We saw a downward momentum to as we expect a retest of previous August lows. So far, gold seems to maintain its bearish direction. We will expect a strong resistance at the 1900 psychological levels, and potentially at retest of 1910-1920 levels before driving down to test previous lows.
Next area to look for will be at 1900 level for a potential buy.
Buys at 1899-1902
Sells at 1913-1917
We saw a downward momentum to as we expect a retest of previous August lows. So far, gold seems to maintain its bearish direction. We will expect a strong resistance at the 1900 psychological levels, and potentially at retest of 1910-1920 levels before driving down to test previous lows.
Next area to look for will be at 1900 level for a potential buy.
Buys at 1899-1902
Sells at 1913-1917
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