Gold Price Analysis
Gold price settles at the main bearish trend
Until we get a clearer signal for the next trend, which is located resistance -located now at 1784 – or breaking 1807.
I recommend reading the review written on 11.8.2021“Has the affirmative rise in gold ended and the great decline in gold is before us”?
Gold has recovered from the downtrend support and we are looking for a reaction / possible bias in the stretch towards yearly downtrend resistance or that prices are going to achieve lower targets
To get approval for the uptrend move, we need to watch what will happen in the resistance prices at 1821-1834, while breaking the support represents at 1730 +_ price the key to resume the main bearish wave and heading to achieving negative targets at 1640 -1580- 1480-1460
On the other hand, I saw something that caught my eye
Pay attention to the position of producers against the positions of non-reporting traders
In April 2019 there was a similar situation – after which, the price started to rise from the 1300 area to the 2060 area – you should pay attention to this!
(But support and approval for this scenario should only come in coordination with approval of breaking the objections I mentioned)
Want to trade on gold – The best trading condition
13 pips spread only on XAU/USD