Gold Spot / U.S. DollarUpdated Gold- Near an important point
After breaking above the resistance of the falling channel, XAUUSD started the week with a new all-time high.
The bulls managed to maintain the price above the crucial 2400 level for three days.
However, yesterday's trading session ended with a significant drop of 500 pips, pushing the price back below 2400.
Although the overall structure remains bullish, the price is now trading close to an important zone between 2355 and 2360.
If the bulls also lose this level, the price could drop further, potentially falling below 2300.
While my outlook remains bullish, I am very cautious.
XAUUSD started the week with a new all-time high. The bulls managed to maintain the price above the crucial 2400 level for three days.
However, yesterday's trading session ended with a significant drop of 500 pips, pushing the price back below 2400.
Although the overall structure remains bullish, the price is now trading close to an important zone between 2355 and 2360.
If the bulls also lose this level, the price could drop further, potentially falling below 2300.
While my outlook remains bullish, I am very cautious.
Note
Gold is in a very important confluence of support levels
📈 Forex & XAU/USD Channel:
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💎 Crypto Channel:
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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