XAUUSD More decline expected but prepare to buy on these levels.

١٨ مايو ٢٠٢٣

Gold / XAUUSD is declining, which is a technical pull back inside the long term Channel Up.

A 4hour Death Cross will be formed tomorrow and in the past 12 months it has been a bearish signal of sell continuation.

We expect the bottom to be either on the 1day MA100 (1930) or the lower dotted line (1910). In either case, over Support A as on February 28th.

Confirmed buy signal will be when you see Higher Lows on the 4hour MACD leading to 0.0.

Long term Target = 2080.


Previous chart:

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