GOLD (XAUUSD): Preparing for Selling Wave

5 thg 12, 2020

Gold is very close to a major area of supply on a daily.
Blue zone on a daily chart is based on strong horizontal resistance and falling trend line.

From that zone, I will expect a bearish move.
However, because the zone is quite wide, I would recommend you to look for a confirmation on a lower time frame before you open short.

When short rally will start, the first goal for sellers will be 1780 (local daily structure low).