linofx1

GOLD: Bearish Flag, Sell!

TVC:GOLD   CFDs on Gold (US$ / OZ)
↪️XAUUSD On Friday experienced selling pressure following the remarks of Fed Jerome Powell at the Jackson Hole Symposium.

From a technical perspective, I observed a bearish flag pattern which led me to have a negative bias. The technical analysis of the daily chart suggests a neutral to bearish sentiment for XAUUSD, indicating a decrease in the recent bullish momentum.

In the meantime, in order to catch the next potential movement, it would be advisable to wait for a breakout from the bearish flag...Trade safely👍✅

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