Mihai_Iacob

Gold- Possible change of trend

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
It has been a volatile week for XAUUSD traders. The price hit a new all-time high during the Monday Asian session but swiftly reversed later that day. Subsequently, the price remained within a range until Friday when bears managed to push it below the crucial 2010-2020 confluence zone support, signaling a potential change in trend.

Considering these developments, I currently hold a bearish outlook on Gold and am actively seeking opportunities to sell on market rallies. The former support has transformed into resistance, and it is within this zone that I am monitoring for entry signals.

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