• Vasily Trader

GOLD (XAUUSD) Very Bearish Setup

Gold was contracting for quite a while within an ascending triangle formation.

However, now we see some bearish clues:

The last hourly candle closed below the triangle's support and for us, it is a very strong intraday bearish signal.

Now the price may drop lower to retest 1811 local structure low

and then drop even lower to 1806 next support.