REVIEW OF GOLD:
MACD already told us the downward momentum is gone.
RSI is Overbought
All these telling me Gold is facing Daily Resistance.
I will look into a small time frame to find.
Any bearish pattern: Double Top, Pin Bar, Bearish Engulfing and short.
Trade with care and use good money management.
If you don't understand the setup please ignore the trade....
Gold Target 1: 1280
Target 2: 1300
We have broken below the descending trend line, 1280 should be hit soon. I feel gold is still on a bullish rally and that we will be seeing 1300+ Shortly after we find support.
XAUUSD is struggling for upside and pushing slowly for upside. Soon it will break down and will break down hard once it will break down then keep selling the XAUUSD all the way back to the bottom.