XAUUSD: Continue the downward trend?
After the plasma treatments were approved, the Dow futures soar 300 points. Which means that people are confident about it. So, what would gold do with this?
I would say the gold price could go down.
Also, we have some other signals to prove it. The descending triangle here indicates that the price could continue to go down after the triangle and may break out from the bottom trend line.
Another thing here is that the RSI remains in a downward trend. The RSI has been at a low level for a while, so I believe that the trend would continue.
Let’s expect the price to go down.
I would say the gold price could go down.
Also, we have some other signals to prove it. The descending triangle here indicates that the price could continue to go down after the triangle and may break out from the bottom trend line.
Another thing here is that the RSI remains in a downward trend. The RSI has been at a low level for a while, so I believe that the trend would continue.
Let’s expect the price to go down.
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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.