Mlando17

GOLD IS PREPARING FOR A BEARISH CONTINUATION...

OANDA:XAUUSD   Gold Spot / U.S. Dollar
On the daily chart there seems to be a double topped resistance zone, the market failed to break through. But our main focus will be on the 4HR time interval, where the market broke a bullish trendline, that it has been obeying since August 2021,and made a new major support below the trendline which is currently our major support roughly @1787.If the market breaks through this level, than we'll be looking at a very bearish movement continuation.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.