10/12 Monday XAU Gold Morning Analysis
After a strong rally, gold is now pulling back from elevated levels on the daily chart. Several moving averages have turned downward, and the price is trading below them. The market is currently seeing a choppy rebound after the decline. The cluster of moving averages above is strong resistance, and the bearish trend remains intact. The main strategy is to sell into rebounds!
Recommendation:
Sell at 4220–4240, targeting around 4180–4160
#xau
After a strong rally, gold is now pulling back from elevated levels on the daily chart. Several moving averages have turned downward, and the price is trading below them. The market is currently seeing a choppy rebound after the decline. The cluster of moving averages above is strong resistance, and the bearish trend remains intact. The main strategy is to sell into rebounds!
Recommendation:
Sell at 4220–4240, targeting around 4180–4160
#xau