• Vasily Trader

GOLD (XAUUSD): Bearish Scenario Explained (2 Options) (forecast)

Hey traders,

Very important thing happened with Gold this week:

the price broke and closed below a major rising trend line ,

moreover, the market set a new lower low lower close on a daily starting a local bearish trend .

Now the broken trend line turned into resistance.

The area between a broken trend line and the current market high serves as a sell zone.

From there a bearish continuation will be expected.

I will be on the conservative side and will wait until the price retests the trend line for a safer entry.

However, more aggressive trading also can be an option.

Goal for sellers - 1816