Gold: breakout or not to breakout - that is the question

٣١ أغسطس ٢٠٢٣

Will Gold break or drop?

1-The XAU/USD is testing the resistance of the bearish channel.

2-There is also resistance at 1950: double rejection - Wednesday and Thursday.

3-The medium-term momentum is bearish.

4- There is no RSI bullish divergence.

Conclusion: Gold would likely drop to 1900!