Price needs to accumulate around prior month highs for a bit longer before I'm interested in going long.
The downtrend retracements needs to be invalidated before prices can go higher.
Another bullish scenario is for price to spike higher and have a sustained tight consolidation around the high of the spike.
The bearish scenarios are for a grind lower to the bottom of the hypothetical trendline drawn which coincides with last swing low.
A weak bullish attempt to maintain support and prices will collapse. There is a point of inflection coming. Let's see who wins
XAUSGD
The downtrend retracements needs to be invalidated before prices can go higher.
Another bullish scenario is for price to spike higher and have a sustained tight consolidation around the high of the spike.
The bearish scenarios are for a grind lower to the bottom of the hypothetical trendline drawn which coincides with last swing low.
A weak bullish attempt to maintain support and prices will collapse. There is a point of inflection coming. Let's see who wins
XAUSGD