XAUUSD-Time to sell!
Bias: Sell (If Price Breaks Below 2892 - 2890)
Reasons for Sell Bias:
Rejection from 2940 Resistance
• Price reached a key resistance zone and strongly rejected downward, showing seller dominance.
Bearish Momentum & Breakdown
• The market has been making lower highs and lower lows, indicating a shift to a downtrend.
Potential Break of 2892 Support
• If price breaks below 2892 - 2890, a further drop toward 2880 and lower is likely.
Reasons for Sell Bias:
Rejection from 2940 Resistance
• Price reached a key resistance zone and strongly rejected downward, showing seller dominance.
Bearish Momentum & Breakdown
• The market has been making lower highs and lower lows, indicating a shift to a downtrend.
Potential Break of 2892 Support
• If price breaks below 2892 - 2890, a further drop toward 2880 and lower is likely.
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