GOLD: Confronted with Resistance Line!
Hello everyone! Today i want to share some macro analysis with you!
$E-Micro Gold - main 2502(MGCmain)$ $Gold - main 2502(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Gold price managed to break below the intraday bullish trend line and stabilised below it, reinforcing the expectation of a continuation of the bearish trend on an intraday basis, mainly waiting for a visit to the $2,615.00 and subsequently the $2,600.00 level.
Stochastic has clearly lost its positive momentum, supporting the downward expectation that a break above $2687 will stop the bearish wave and lead the price back to the main bullish track again.
Today's trading range is expected to be between the $2625 support level and the $2660 resistance level.
Trend forecast: Bearish!
European Market Strategy: Sell: 2652-2655 TP:2633-30 SL:2661.5
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