XAUUSD Gold: End of the bullish trend ?
Updating our XAUUSD Weekly Chart.
Jackson Hole Symposium by The Federal Reserve Bank of Kansas City; Aug. 26-28, can be the place of the FED's first strong sign of a new path.
The location of the key support zone is 1765 - 1750 USD/Ounce.
Weekly closing below 1750 ( and the closing below the red trendline ) will add weight on the ounce.
It is early to take a big short position before closing below 1750 USD/Ounce.
Below 1750; our targets are 1720, 1700 1685, and 1640.
Indicators:
Cycle Sniper
Advanced Chart Patterns Tracker
Jackson Hole Symposium by The Federal Reserve Bank of Kansas City; Aug. 26-28, can be the place of the FED's first strong sign of a new path.
The location of the key support zone is 1765 - 1750 USD/Ounce.
Weekly closing below 1750 ( and the closing below the red trendline ) will add weight on the ounce.
It is early to take a big short position before closing below 1750 USD/Ounce.
Below 1750; our targets are 1720, 1700 1685, and 1640.
Indicators:
Cycle Sniper
Advanced Chart Patterns Tracker
Comment:
The first medium term target is ok
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