GOLD (XAUUSD) Breakout & Important Shift! Plan for Next Week:

BREAKOUT!
Yesterday after a nice accumulation,
bears successfully broke below daily horizontal support.

It is a very important bearish signal and it makes us bearish bias.

For intraday trading, consider a falling parallel channel.
Broken horizontal level and its trend line form a local resistance area from where I would look for shorting opportunities.

Next goal for sellers is 1690 level - next daily support.

For now, prioritize only selling.

Good luck!

Comment:

Watch my new video on GOLD:

04:18