XAUUSD is about to retest a horizontal support level at 1890 areas And a bullish rebound is to be expected According to technical analysis With the target of retesting a local resistance above at 1990
Just eyeballing the height of the head and shoulders formation up there, it looks like the break below the neckline that happened should extend just about to that support zone you marked there. Nice call. I agree. The fundamentals remain bullish. Tomorrow morning, check what today's open interest change in gold futures was. That will give you an idea of whether this down move was more driven by long liquidation or new shorts entering the market.