Gold cannot break through major resistance
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Gold tried to move above $2000 but it was almost impossible and there is now a deep decline
Today's drop to $6.80 may seem insignificant, but given the fact that gold prices have managed to break above $2,000, this is actually significant. That simply isn't happening despite the escalating situation in the Middle East.
Gold is likely to peak with an RSI near 70 and about 1-2 weeks later interest in “war” on Google News reaches its peak. That's exactly where we are right now.
Overall, current predictions for gold prices are bearish.
Today's drop to $6.80 may seem insignificant, but given the fact that gold prices have managed to break above $2,000, this is actually significant. That simply isn't happening despite the escalating situation in the Middle East.
Gold is likely to peak with an RSI near 70 and about 1-2 weeks later interest in “war” on Google News reaches its peak. That's exactly where we are right now.
Overall, current predictions for gold prices are bearish.
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XAUUSD SELL 1986 - 1989 🔽🔽✔️TP1 : 1980
✔️TP2 : 1970
❌SL: 1995
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XAUUSD SELL 1986 - 1989 🔽🔽 +50 Pips 🔽🔽
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