ASAMForex

MARKET OUTLOOK ON GOLD (MAY 18 2021).

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Here is todays market outlook on GOLD in Daily time frame. There is confluence of factors at the current market price that satisfy the idea that PRICE IS ABOUT TO DROP. We expect a downward corrective movement that will take any version of corrective structure.

Similar direction is expected to occur in SILVER and AUDUSD because they exhibit positive correlation. But remember at the current market price we don't have clue of evidences for starting opening selling positions now. Updates will be done in lower timeframes when price is in position to allow us to sell.

WHAT IS YOUR TRADING OPINION ON THIS...????? Share it in comment section, THANK YOU.

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.