XAUUSD: Gold Sell, watch a wave of decline

١٣ أكتوبر ٢٠٢٣

The upward trend of gold has not changed, but there will inevitably be adjustments after a big rise, and now gold has risen and touched the pressure position of the 4-hour upper Bollinger Band. According to technical principles, this position can see a wave of correction! Unless the market is very strong and breaks through directly, but it has already risen sharply to nearly 20 US dollars during the day, it is estimated that the probability of a direct rise is low!

The U.S. market is bearish for a wave of adjustments at first, and then bullish after the resistance is reversed. The support below is 1875. After gaining support, it will be bullish again!