GOLD (XAUUSD):Bearish From Strong Resistance 1903-1917!🛢️

22 בפבר׳ 2022

Hello to all dear friends.

I remain bearish on gold. Ahead is a strong structure resistance.
For the last 3 trading weeks, Gold is very bullish .
The market gained more that 6%.
So the long-term bullish power will not fall immediately, it may form a double-headed structure and reach 1903-1917 again.


Once the price reaches this position, again that your task will be to look for an intraday confirmation to short.
Then a pullback will be expected at least to 1850 level.

If you analyze the price action from February 2021 you may notice that the market is trading within a wide horizontal trading range.


If 1917 is broken strongly, then that means a bullish breakout of the underlined resistance will trigger a bullish continuation to 1960 level.

❤️Please, support this idea with like and comment!❤️

25 בפבר׳ 2022

הערה

The long upper shadow is due to the war factor.