XAUUSD (Gold) - Possible Short-Term Selling Pressure?
Hi Traders, in the previous analysis I talked about possible rejection at 1756 minor support structure, which price actually respected it well and now we're at 1790.
1790 resistance level has been a level that I think if the mid-long term Bearish trend were to continue, it could hold.
So for now, I will suggest to stop the short-term buys and observe how price reacts around 1790.
Once we notice more selling pressure at 1790, it could send Gold back towards 1756 or lower.
Remember that the long-term trend is still Bearish, what I did was anticipating a short-term reversal from 1680.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
1790 resistance level has been a level that I think if the mid-long term Bearish trend were to continue, it could hold.
So for now, I will suggest to stop the short-term buys and observe how price reacts around 1790.
Once we notice more selling pressure at 1790, it could send Gold back towards 1756 or lower.
Remember that the long-term trend is still Bearish, what I did was anticipating a short-term reversal from 1680.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
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