XAU-USD
At Friday's close, the price of XAU surged to a high of 2088. Currently, market sentiment indicates that traders are inclined to engage in selling actions within the price range of 2088-2099. Consequently, the most ideal target amidst this bearish sentiment is approximately 2016.
This suggests a propensity to observe a decline in the price of gold from the recently attained peak levels. Traders are seeking opportunities to capitalize on the significant price increase witnessed earlier. By setting a target around 2016, they anticipate that the price will revert downwards towards that level.
Note:
It is noteworthy that if the price were to directly reach 2092, then the best-case scenario would be bullish movement up to 2140. However, if there is a tendency towards a decline, then it may reach 2065 and rebound towards 2014 in the coming days.
Goodluck traders !!!
This suggests a propensity to observe a decline in the price of gold from the recently attained peak levels. Traders are seeking opportunities to capitalize on the significant price increase witnessed earlier. By setting a target around 2016, they anticipate that the price will revert downwards towards that level.
Note:
It is noteworthy that if the price were to directly reach 2092, then the best-case scenario would be bullish movement up to 2140. However, if there is a tendency towards a decline, then it may reach 2065 and rebound towards 2014 in the coming days.
Goodluck traders !!!
Trade active
Trade closed: target reached
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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.
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.