XAUUSD: BEWARE weird closure
- Price closed last week with a big weird bullish move below 2040.0.
- As you can see on the charts price broke multiple levels left behind big imbalances also we still waiting for 2008.0 levels mitigation to rebalance price delivery.
- As we observe dollar index as an inversely correlated instrument we should see a strong bearish move this week but gold chart is NOT that clear to choose a specific level to look for shorts, so we should wait for Monday closure below 2035.0 as a good confirmation to short.
- As you can see on the charts price broke multiple levels left behind big imbalances also we still waiting for 2008.0 levels mitigation to rebalance price delivery.
- As we observe dollar index as an inversely correlated instrument we should see a strong bearish move this week but gold chart is NOT that clear to choose a specific level to look for shorts, so we should wait for Monday closure below 2035.0 as a good confirmation to short.