🪙 $XAU (Gold Perp): Are the Bears Still in Control? 📉
Gold has dropped from the ~4,700 high to 3,890, nearly 17% down, and it’s red again today (-2.49%).
On the daily chart, price is trading below the MA(7), MA(25) and MA(99), which is a clearly bearish structure. The 3,881 24h low is the key level to watch. A break below could open more downside, while a bounce could take it back toward the 4,000 zone.
What’s your view? 🐂 Bounce or 🐻 more downside? Drop your thoughts below 👇
#XAU #Binance
Gold has dropped from the ~4,700 high to 3,890, nearly 17% down, and it’s red again today (-2.49%).
On the daily chart, price is trading below the MA(7), MA(25) and MA(99), which is a clearly bearish structure. The 3,881 24h low is the key level to watch. A break below could open more downside, while a bounce could take it back toward the 4,000 zone.
What’s your view? 🐂 Bounce or 🐻 more downside? Drop your thoughts below 👇
#XAU #Binance
