XAUUSD: big day
gold was supported at 1489 and then pumped toward key resistance 1520-1524 as mentioned in the previous post.
but we can see that bears were fighting back strongly when reaching 1520-1524, resulting in a big dump to 1500 level now.
support below to watch is 1498 and 1490.
1490 is more like to be reached based on the strong plunge and is really essential for bulls as its the support of the uptrend line since 1266.
not taking any trades atm. keep watching and will try to long around 1490 with a tight sl at 1485
but we can see that bears were fighting back strongly when reaching 1520-1524, resulting in a big dump to 1500 level now.
support below to watch is 1498 and 1490.
1490 is more like to be reached based on the strong plunge and is really essential for bulls as its the support of the uptrend line since 1266.
not taking any trades atm. keep watching and will try to long around 1490 with a tight sl at 1485
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