✏️ XAU/USD : Looking for SELL (READ THE CAPTION)

By checking the gold chart in the 2-hour time frame, we see that the price is approaching an important supply range, this range is between $1935 and $1940, and if you find a suitable trigger, look for a SELL position in this range! The second most important range is between $1947 and $1956! My opinion is currently bearish on this chart unless I declare otherwise! The first downward target in this time frame is the range of $1910 to $1915!

The Weekly Analysis : By examining this chart in the weekly time frame, we can see that the price had faced the pressure of demand several times in the past weeks by reaching $1935 and even managed to grow up to $1984! Now the price has penetrated below this level and this can cause gold to fall more in the weekly time frame! If the price stabilizes below $1938, we can expect a drop to targets below $1900! If this scenario is realized, its downward targets are $1901, $1872, $1856, and $1847, respectively!

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Best Regards , Arman Shaban

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