Mihai_Iacob

Gold- Long term bull trend can be in jeopardy

OANDA:XAUUSD   זהב / דולר אמריקאי
Since the 7th of March test of the old ATH, Gold is trading downwards and, what at first seemed to be a normal correction is starting to look like a trend reversal.
Technically speaking, looking at the weekly posted chart, we can see that XauUsd has had a clear up trajectory starting in mid-2018. However, after the second top(that can become a double top) the price has fallen more than 2k pips and at this moment is challenging a very important confluence support: the long term trendline and horizontal important zone.
For the trend to remain intact, bulls need a reversal now and the price to get back above the 1880-1890 zone quickly.
On the other hand, a clear break under this support would expose 1680 support in the medium-term.
At this moment my approach is to wait and see.



🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
כתב ויתור

המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.