The End of Gold Downtrend XAUUSD
*****Week 30, Friday, 22 July 2022*****
XAUUSD Based on the daily chart:
1. On 21 July, this is the first bullish engulfing candle appears since previous Lower High of the market structure and that was 38 days ago.
2. This bullish engulfing candle appears after the price tested the support area at 1680.
3. It also appears once the price has came into RSI oversold area.
4. MACD signal almost cross above indicating a sign of trend reversal.
5. The analysis concluded that this is the first confirmation to buy. Opportunity to buy is any price below 1719.
#TradeAtYourOwnRisk
#TAYOR #Week30
XAUUSD Based on the daily chart:1. On 21 July, this is the first bullish engulfing candle appears since previous Lower High of the market structure and that was 38 days ago.
2. This bullish engulfing candle appears after the price tested the support area at 1680.
3. It also appears once the price has came into RSI oversold area.
4. MACD signal almost cross above indicating a sign of trend reversal.
5. The analysis concluded that this is the first confirmation to buy. Opportunity to buy is any price below 1719.
#TradeAtYourOwnRisk
#TAYOR #Week30
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