$XAU
XAU Gold
The short-term price action is still choppy as the market searches for direction. The key resistance at 4230 has not been tested, so the short-term downtrend has not yet reversed. There may be a potential inverse head-and-shoulders pattern forming below, so watch to see whether it takes shape!
Keep an eye on key support around 4050. A break below it would signal a downtrend on the larger timeframe, and we would need to look for a new bottom!
XAU Gold
The short-term price action is still choppy as the market searches for direction. The key resistance at 4230 has not been tested, so the short-term downtrend has not yet reversed. There may be a potential inverse head-and-shoulders pattern forming below, so watch to see whether it takes shape!
Keep an eye on key support around 4050. A break below it would signal a downtrend on the larger timeframe, and we would need to look for a new bottom!