Hello Traders! 👋
What are your thoughts on Gold?
The Gold (XAUUSD)chart is currently flashing significant signs of a trend reversal. After a prolonged period of consolidation within a corrective structure, the price has failed to clear a major resistance zone and is now confirming a bearish breakout.
A decisive break has occurred below the lower boundary of the Rising Wedge pattern.
The red box remains a heavy supply zone. Multiple rejections at this level have formed a Lower High structure, indicating that sellers are now firmly in control of the market.
The path of least resistance is now to the downside. As long as the price remains below the broken ascending trendline and the supply zone, the bearish outlook remains intact.
A strong breakout and acceptance above the supply zone would weaken the bearish outlook.
What is the next move for Gold? Share your thoughts and analysis in the comments! 👇
Please like and support if this analysis helps your trading! ❤️
What are your thoughts on Gold?
The Gold (XAUUSD)chart is currently flashing significant signs of a trend reversal. After a prolonged period of consolidation within a corrective structure, the price has failed to clear a major resistance zone and is now confirming a bearish breakout.
A decisive break has occurred below the lower boundary of the Rising Wedge pattern.
The red box remains a heavy supply zone. Multiple rejections at this level have formed a Lower High structure, indicating that sellers are now firmly in control of the market.
The path of least resistance is now to the downside. As long as the price remains below the broken ascending trendline and the supply zone, the bearish outlook remains intact.
A strong breakout and acceptance above the supply zone would weaken the bearish outlook.
What is the next move for Gold? Share your thoughts and analysis in the comments! 👇
Please like and support if this analysis helps your trading! ❤️
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t.me/+1gFAIO4CJJw3NTU0
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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.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
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.