InvestingScope
Short

XAUUSD: Sell opportunity on 4H.

FX:XAUUSD   Gold Spot / U.S. Dollar
After a trade war fueled spike, Gold has almost reached the 4H Resistance ( RSI = 60.740, MACD = -1.040) which has rejected the price on 4 previous occasions. Based on the 1D Lower High trend line , the upside should be limited ( RSI = 51.087, MACD = -2.250, STOCH = 24.630) unless the trade was escalates and more stock capital seeks refuge on Gold's safe haven, but this is out of our control. With DXY extending its rise past its 1D Resistance, the underlying trend on Gold remains bearish . We are short again TP = 1,272.





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Do you think 1183 can be tested again?
+1 Reply
InvestingScope short-faced_bear
@short-faced_bear, It is too early to talk about that possibility. As of now the next support is located at 1,250. We advise you to take one level at a time.
+1 Reply
short-faced_bear InvestingScope
@InvestingScope, Thanks for your idea.
Reply
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