GOLD (XAU/USD): detailed chart breakdown. Where to next?
As it can be clearly inferred from the 8H timeframe graph, the price has finally been able to break the lower boundary of the descending triangle and re-test the broken structure before further drop.
At the very moment, an indecision can be witnessed, as the price is ranging in a sideways-moving consolidation box. After a valid bottom is formed, we are expecting for the price to keep pushing to the upside and reach the area of the previous Lower Low plotted on the chart.
Happy new trading week, everyone!
At the very moment, an indecision can be witnessed, as the price is ranging in a sideways-moving consolidation box. After a valid bottom is formed, we are expecting for the price to keep pushing to the upside and reach the area of the previous Lower Low plotted on the chart.
Happy new trading week, everyone!
