GOLD IS BEARISH !!!!
https://www.tradingview.com/chart/8zkc9xZA/?symbol=EIGHTCAP%3AXAUUSD
GOLD maintains a bearish stance. The price appears to be exiting the corrective phase that ensued following an unconfirmed breach of support. The market seems poised for a further decline.
On the 1-hour chart, XAUUSD has broken below the trendline and is positioned beneath the 50 and 100 Moving Averages. The Momentum oscillator has crossed below the 100 level from above, providing an additional bearish signal for Gold.
Initiate a sell position on XAUUSD if it breaches below $2340;
🎯 Target $2328.
GOLD maintains a bearish stance. The price appears to be exiting the corrective phase that ensued following an unconfirmed breach of support. The market seems poised for a further decline.
On the 1-hour chart, XAUUSD has broken below the trendline and is positioned beneath the 50 and 100 Moving Averages. The Momentum oscillator has crossed below the 100 level from above, providing an additional bearish signal for Gold.
Initiate a sell position on XAUUSD if it breaches below $2340;
🎯 Target $2328.
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