WILL GOLD DROP BELOW 1695 OR BOUNCE TO REVISIT 1728 OR HIGHER?
Check out the trade plan for XAUUSD today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you!
Gold has reversed on the 1728 resistance and is now on 1695 support. Here we have to look for a confirmation of a bounce or a breakout on the support to identify the next direction. 1695 support is a level where we have seen multiple times supported price action which brought a considerable amount of buying interest to the market. With the sell-off pressure, we have seen I expect more downside correction to appear based on the structure that the price has created.
Gold has reversed on the 1728 resistance and is now on 1695 support. Here we have to look for a confirmation of a bounce or a breakout on the support to identify the next direction. 1695 support is a level where we have seen multiple times supported price action which brought a considerable amount of buying interest to the market. With the sell-off pressure, we have seen I expect more downside correction to appear based on the structure that the price has created.
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