Get started
Tickmill

Gold is facing bearish pressure, potential drop!

Short
Gold Spot / U.S. Dollar (SAXO:XAUUSD)  
Tickmill Broker  
SAXO:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns XAUUSD Gold goldshort xauusdshort
113
1
trendanalysis harmonicpatterns chartpattern xauusd gold goldshort xauusdshort
Price continues to face bearish pressure, trending below the EMA (45) and Ichimoku cloud. We are thus seeing a medium-probability bearish scenario as price breaks below our ascending trend line, where we could possibly see a further drop towards our first support at 1801.71.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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.