• Vasily Trader

GOLD (XAUUSD): Watch Carefully!

Gold set a peculiar equal low retesting a 1678 horizontal support.

Taking into consideration that the market is trading a bearish trend , it can be an important reversal clue.

To catch a bullish move, wait for a bullish breakout of a falling parallel channel on a daily.

It will be a perfect confirmation for initiation of a new swing move.

Closest resistance 1755-1765

Remember that in case if a resistance of the channel is respected and a price sets a new lower low, we will expect a further decline.

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