Technical View
- XAU/USD is trading higher on Monday, but Friday’s closing price reversal top may be producing enough of a bearish influence to put a lid on prices.
A trade through $2333.88 will confirm the chart pattern, shifting momentum to the downside. A move through $2319.395 will change the minor trend to down. This will reaffirm the momentum shift, setting up the market for a possible correction into $2288.87.
- Taking out $2431.59 will signal a resumption of the uptrend.
- XAU/USD is trading higher on Monday, but Friday’s closing price reversal top may be producing enough of a bearish influence to put a lid on prices.
A trade through $2333.88 will confirm the chart pattern, shifting momentum to the downside. A move through $2319.395 will change the minor trend to down. This will reaffirm the momentum shift, setting up the market for a possible correction into $2288.87.
- Taking out $2431.59 will signal a resumption of the uptrend.
Trade active
Trade active:
XAUUSD Moving well +1000pips
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