XAUUSD near term Update: Gold weekend Drop to continue?
Part of my ongoing analysis of Gold (see links below).
Weekend trade war news caused a dramatic drop in price.
Risk sentiment got a sigh of relief into US holiday week.
The amplitude of the drop indicates another leg to go.
We should see a "Dead Cat" bounce but maybe even that is done.
If it does not bounce to at least the red zone above, look out below.
Overall, we can expect the sell off to continue into UK/US sessions.
$1383.xx test is expectable and a strong bounce would be bullish.
$1379.xx test is likely and any bounce there worth watching.
$1376.xx seems quite plausible and will be Bulls Last Stand.
Previous Gold Analysis (click):
$1400 bounce
$1439 top call
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 4 mos ago
Weekend trade war news caused a dramatic drop in price.
Risk sentiment got a sigh of relief into US holiday week.
The amplitude of the drop indicates another leg to go.
We should see a "Dead Cat" bounce but maybe even that is done.
If it does not bounce to at least the red zone above, look out below.
Overall, we can expect the sell off to continue into UK/US sessions.
$1383.xx test is expectable and a strong bounce would be bullish.
$1379.xx test is likely and any bounce there worth watching.
$1376.xx seems quite plausible and will be Bulls Last Stand.
Previous Gold Analysis (click):
$1400 bounce
$1439 top call
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 4 mos ago
Comment:
Beautiful confirmation of this support zone
How could i NOT have faith in all the lines/zones?
.
.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
.