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Gold (XAUUSD)
Short

30-mins GOLD: Sellers Are In Control

251
Gold (XAUUSD) on the 30-minute chart is showing strong bearish momentum. The Death Cross of the 20-period MA breaking below the 60-period MA signals a shift to a downtrend. Price action confirmed the move with a break below the $2620 support, intensifying selling pressure. A natural pullback took place but only to retest immediate resistance at $2617 (23% Fib retracement), reinforcing bearish sentiment. The rejection at this level and failure to reclaim the 20-period MA suggest a continuation of the downtrend. If selling persists, the next target support lies near $2590. Further drop is expected.
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Chart PatternsTechnical IndicatorsTrend Analysis
Trendsharks
Also on:

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.