XAU/USD- Heading to 1500 levels zones.
📉 [Live Trade] Gold - Bearish - We look to Sell at 1638.90
▪ The medium-term bias remains bearish.
▪ Broken out of the triangle formation to the downside.
▪ A mild correction has been posted from yesterday's low, this is seen as a retest of the breakout level.
▪ Resistance could prove difficult to break down.
▪ We, therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Confidence: ⭐⭐⭐⭐⭐
⛔ Stop: 1648.57
🎯 Target 1: 1617.22
🎯 Target 2: 1590
▪ The medium-term bias remains bearish.
▪ Broken out of the triangle formation to the downside.
▪ A mild correction has been posted from yesterday's low, this is seen as a retest of the breakout level.
▪ Resistance could prove difficult to break down.
▪ We, therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Confidence: ⭐⭐⭐⭐⭐
⛔ Stop: 1648.57
🎯 Target 1: 1617.22
🎯 Target 2: 1590
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