Gold- Bearish under yesterday's high

In my comment from yesterday, I argued that even if the price managed to break above the 2030 interim resistance, my outlook remains bearish.
During the trading day, bulls failed once again at the peaks and were unable to keep the price above 2040.
The rise from the 2015 zone is corrective in nature, and when considering the formation of a small head and shoulders pattern over the past two days, we may anticipate a continuation to the downside.
Confirmation, as explained yesterday, comes with a break below 2030. In such an instance, the focus shifts to the year's low and potentially extends to 1980.
As long as the price remains below yesterday's high, selling rallies is my preferred strategy.

تعليق:

XauUsd is flirting with old resistance, now support.
A clear break is needed for confirmation of bearish scenario

تعليق:

XauUsd broke back under 2030 as expected and now is trading near 2023 short term support
A level that held the price elevated 2 days ago.
A break here could accelerate losses

تعليق:

XauUsd reversed strongly from 2020
I decided to close on break even and wait