XAU/USD Sell idea.

4 thg 10

Although gold prices are generally bullish for the long term, corrections do occur even in a bullish market, and after a liquidity grab, the market tends to resume its trend. Keeping this in mind, I foresee gold moving towards a selling phase over the next few weeks. So far, the price action of gold is aligning well with the sell model, but I will be closely watching the grey highlighted area for entering a sell position. According to the CFTC's COT report, commercial traders currently have more short positions open compared to long positions.