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jakeboyzone
Sep 1, 2020 8:30 PM

XAUUSD (Monthly) 

GoldOANDA

Description

GOLD has rallied amid the pandemic and displaying exhaustion against a resistance at 2070 levels.
A Bearish set up is seen on the Monthly Chart.
A Descending Triangle is in formation on 4H Chart, hence expecting a range bound play zone for a while.
A break out above could confirm the Bearish harmonic set up, for a retesting back at 2070 resistance levels and a strong downward trend, but not expecting it anytime soon this year.OANDA:XAUUSD
    Comments
    joeyfreako
    I strongly agree
    the fall might be in the coming months and it's going to continue
    kalara94
    same idea i see gold being bearish on a monthly frame..
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