As you see in the daily chart of XAUUSD, after a rise to 1916 which is a resistance level, price stopped growing and couldn’t break the resistance to rise more.
MACD shows a negative regular divergence: although price has made higher highs in the uptrend, MACD could not make higher highs and currently it is in the negative phase.
If price comes lower and closes below the support level around 1860-1865 (S1), I expect a downside retrace for price and a fall to the demand zone around 1830-1815 and if there was any upside push by this area, we can expect a rise in price again.
Otherwise, if price falls more and break down the 1815, we can expect more fall to the second support level around 1766 (S2).
1814 and 1797................place to buy...until that level sell from every high...enjoy weekend...😂👌
Investroy
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Possible, let’s see🙌🏻
KlejdiCuni
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Well done!
jojofang0901
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yea possible short term bearish move from GOLD. :) thx
Babenski
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nice idea 💡
a2ip
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all respect to your efforts and really appreciated but I hope you review your idea please and I hope you look at it from another perspective. I made my technical analysis and I see that the price for gold is going higher soon.