30-mins GOLD: Sellers Are In Control

12 nov

Gold (XAUUSD) on the 30-minute chart is showing strong bearish momentum. The Death Cross of the 20-period MA breaking below the 60-period MA signals a shift to a downtrend. Price action confirmed the move with a break below the $2620 support, intensifying selling pressure. A natural pullback took place but only to retest immediate resistance at $2617 (23% Fib retracement), reinforcing bearish sentiment. The rejection at this level and failure to reclaim the 20-period MA suggest a continuation of the downtrend. If selling persists, the next target support lies near $2590. Further drop is expected.

7 giorni fa

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