BEARISH PRICE ACTION ON GOLD

31 Agu 2024

XAUUSD Looking at the price action on Gold we can see that price has been in an uptrend for a couple of months now making all time highs which incredible for Gold.
But looking at the price movement we can see Gold is finding some difficulties making a significant high and also Gold is already trading at premium which is a better opportunity to start looking for sell entries. My price expectation for Gold right now is a drop to the $2440 price level and a retest to the $2510 price area before the massive sell-off. Based in the price action there is a lot of liquidity resting below that needs to be taken out before any further price pump so seeing Gold drop to the $2280.0 should not come as a surprise to most traders, like we now the market goes where there is liquidity.
NOTE: This is not a financial advice please do your own research am just sharing my own idea.

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