Given the current rowdy climate, companies such as amazon are limiting the amount of deliveries in certain cities. Will this physical demonstration of frustration be the catalyst for the second leg down? Let's keep an eye out for now.
With the same 9. day and 8 hr time range, with plus or minus 4 points. Oil is looking bullish on 8hr analysis. with only 6 more 8 hr candles left, oil should see a bull rally. Then again, the market can crash at any moment. if history repeats itself, we can possibly see a long to 38 this week.
Gold took a dip and then consolidated for Memorial Day. It is riding a support line after breaking from a bull rally. 1740 needs to break for bulls to gain momentum and support area needs to break for bears to get some action. lets see how this week plays out.
While analyzing the XAUSD on weekly. I noticed the 8hr Resistance level of 1730. Price is currently at 1733. In 2 hours a new 8 hr candle will form. My position is bullish until tp at 1746. Let me know what you think!