Oro / DollaroShort
XAUUSD Best and worst case scenarios but both are bearish.
Gold / XAUUSD is about to form a Bearish Cross on the 1day RSI.
All previous 1day RSI Bearish Cross formations in the last 12 months have either pulled back near the 0.382 or 0.618 Fibonacci levels.
With the market showing clear signs of exhaustion from the overbought valuation that is caused by the Israel-Palestine war, we have most likely seen the short term top and a correction is much needed technically.
Sell now and target at least 1935, which besides the 0.382 Fibonacci, will test the 1day MA50.
Previous chart:
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All previous 1day RSI Bearish Cross formations in the last 12 months have either pulled back near the 0.382 or 0.618 Fibonacci levels.
With the market showing clear signs of exhaustion from the overbought valuation that is caused by the Israel-Palestine war, we have most likely seen the short term top and a correction is much needed technically.
Sell now and target at least 1935, which besides the 0.382 Fibonacci, will test the 1day MA50.
Previous chart:
Follow us, like the idea and leave a comment below!!
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