$XAU In the bearish XAU trend, during the recent move up to 4600, I advised you to take profit because I told you the USD would then rise sharply. It tested 100–101, then broke above 101 and reached 102.xx, so the USD pushed XAU down and it was time to take profit.
Today, XAU has reached 4100.
The scalping opportunities during the technical rebound toward the 4200–4224 zone were also quite accurate afterward.
However, XAU is still looking very weak on the monthly chart, and the weekly candle just closed in the red. Lower highs and lower lows on the D1 chart are quite bearish.
Support is forming around 4034–4100 on the quarterly chart.
The monthly and weekly charts look weak.
This is leading to a narrow swing range compared with the daily opening and closing prices.
A 60–80$ range.
The monthly range still has a certain degree of volatility.
4736–4034–4336; this range has not changed.
Today, XAU has reached 4100.
The scalping opportunities during the technical rebound toward the 4200–4224 zone were also quite accurate afterward.
However, XAU is still looking very weak on the monthly chart, and the weekly candle just closed in the red. Lower highs and lower lows on the D1 chart are quite bearish.
Support is forming around 4034–4100 on the quarterly chart.
The monthly and weekly charts look weak.
This is leading to a narrow swing range compared with the daily opening and closing prices.
A 60–80$ range.
The monthly range still has a certain degree of volatility.
4736–4034–4336; this range has not changed.