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XAU/USD - 1H - Breakout

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
yo_zubair  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Support and Resistance Trend Lines Oscillators Gold XAUUSD breakout bearishdivergence
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supportandresistance trendline oscillator gold xauusd breakout bearishdivergence
XAU/USD is in a bearish trend on 1H and 1D. On 1H, the price action has just broken out of the Rising Support and Horizontal Support. The Bearish bias is based on the following confluence:

  • Rising Support broken
  • Horizontal Support broken
  • Strong bearish candles on breakout
  • Bearish Divergence on RSI

Expecting bears to push prices lower towards Horizontal Support.
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