Hourly chart analysis in Gold, chance of a pullback
Hello everyone! Gold reached a minor resistance level at 1930.
It needs to be seen whether we see a pullback at this level. Let's
analyze and find out potential entries.
📌At present, we are seeing the formation of a bearish candlestick
in the minor resitance level.
📌If there is a formation of further bearish price action in this resistance
level, traders can consider selling XAU/USD@1930 with SL above 1934 and
TP at 1918.
📌Please keep in mind that the daily and weekly trend for Gold is tilted
to the bullish side. So, any sell entries should be handled with caution
and for short duration only.
It needs to be seen whether we see a pullback at this level. Let's
analyze and find out potential entries.
📌At present, we are seeing the formation of a bearish candlestick
in the minor resitance level.
📌If there is a formation of further bearish price action in this resistance
level, traders can consider selling XAU/USD@1930 with SL above 1934 and
TP at 1918.
📌Please keep in mind that the daily and weekly trend for Gold is tilted
to the bullish side. So, any sell entries should be handled with caution
and for short duration only.
Comment:
Multiple bearish candles have formed and price has setlled below the hourly resistance. Let's see if we can get to 1920
Comment:
Gold fell till 1924 level but currently it is trying to get above the minor resistance once again