GOLD PRICE TECHNICAL ANALYSIS
Following the latest review post: Will the third time happen gold will not hold and collapse or the melody will return?
The trend has been set and is negative – the price of gold is down as long as the break will hold!
“Daily basis is accompanied by a large cycle of the level of 1207 + _ then we have bearish situations who can lead the gold move towards the level of 1040 + _ $ “
Gold prices rose on the back of a weaker US dollar on Tuesday, extending gains into a third session after US president Donald Trump said he was “not thrilled” with the US Federal Reserve for raising interest rates.
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| GOLD ANALYSIS |
Gold broke Down major support and cross down 1207 $ supports the continuation of bearish overview efficiently – Gold failed to stay up this bounder (was major support), we can see very clearly on the charts that gold is trading below the support
The big question is when this shuffle trend will finish: will it go to 1400$ Or 1100$?
the winning number is …….. 1040!
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| XAU USD price |
Gold price technical analysis
As long as gold xau/usd stay and trade below 1228+_ the trend is bearish
if gold cross up above 1228, I’m expecting to meet 1260 areas – there is major supporting price band imprisoned between 1207 and 1223 Strong support: 1224 & 1211 price areas are meaningful numbers and the big trend support stay in 1207 – but it failed to do that so now correction is more than welcome but…… for my opinion its only correction
break down again last lows and especially 1043+_ will send gold to 1040 $+-
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| GOLD FORECAST |
This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice