hello traders after an analysis on xauusd my opinion of gold is bearish
after a turbulent friday caused by NFP and unemployement rate fundamentals the daily candle closed as a inverted hammer indicating a bearish sign the candle rejected a bearish trendline gold has been following for a while now.
the last two weeks of august gold started a correctional bullish movement that pumped from the 1900s to the 1940s creating a bullish correctional trendline ,
i believe if bears manage to break that trendline we will likely see gold continue his overall bearish movement maybe back to 1900s.
this is just a probable scenario nothing is confirmed and anything is possible the break out of the trendline and the key level will be a good confirmation
after a turbulent friday caused by NFP and unemployement rate fundamentals the daily candle closed as a inverted hammer indicating a bearish sign the candle rejected a bearish trendline gold has been following for a while now.
the last two weeks of august gold started a correctional bullish movement that pumped from the 1900s to the 1940s creating a bullish correctional trendline ,
i believe if bears manage to break that trendline we will likely see gold continue his overall bearish movement maybe back to 1900s.
this is just a probable scenario nothing is confirmed and anything is possible the break out of the trendline and the key level will be a good confirmation
