XAUUSD |Panoramic View

3 Jul 2023

All of last week was characterized by sellers driving the price of Gold down.

Such bearish sentiment on Gold is assumed to remain intact this week, despite the expectation that a bullish correction to undo some of the previous' week selling activity may be in the works.

As such the approach most technical would be to find the appropriate spot to sell rather than to buy so as to hop onto the existing selling pressure.

However, it remains to be seen whether the present bullish movement is a trend reversal or a just a retracement [correction] for further bearish gains.