If it doesn't break 3400, be wary of a possible pullback

126
#XAUUSD

Gold continued its upward trend tonight, consolidating again near 3390. Don't chase the rally at high levels!📊

Gold is near the upper edge of a convergent triangle.📐 As I told you before, whether it can effectively break through the edge of the triangle will determine the subsequent trend of gold in the short term. ⚖️

If it fails to effectively break through the upper range of 3395-3410 in the short term, then gold may still have the possibility of a pullback. 📉Otherwise, upward momentum will be fully opened. Exercise caution in evening trading.💻

There will be initial unemployment claims data tomorrow, so please pay attention to it.

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.