XAUUSD: Will price fall toward $2100 region?
Dear Traders,
Gold has been extremely bullish since last couple of weeks, brough enormous amount of volume in the market. However, as price continued rallied, it is hard to say when it will stop rallying and start dropping. It is extremely hard to know the pin point of reversal areas. In our opinion, price has pushed more 4 times in similar pattern which illustrate soon price will reach a exhaustion point. 2205-2215 area remain key levels, if price decides to create strong wicks.
Good luck and trade safe!
Gold has been extremely bullish since last couple of weeks, brough enormous amount of volume in the market. However, as price continued rallied, it is hard to say when it will stop rallying and start dropping. It is extremely hard to know the pin point of reversal areas. In our opinion, price has pushed more 4 times in similar pattern which illustrate soon price will reach a exhaustion point. 2205-2215 area remain key levels, if price decides to create strong wicks.
Good luck and trade safe!
Comment:
Price can drop from current price region, dropping towards 2150 and 2090 as our last target.
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