Hello There!
XAUUSD has the potential to turn bearish below the 2157.90 area, and the closest support is 2147.73. The price follows a bearish ABC pattern from the B-high of 2180, which is also a significant resistant area.
The price has the potential to drop to a low of 2130, provided the price does not go above 2171.11. If it does, then the setup will need to be re-evaluated.
Happy Trading.
K.
XAUUSD has the potential to turn bearish below the 2157.90 area, and the closest support is 2147.73. The price follows a bearish ABC pattern from the B-high of 2180, which is also a significant resistant area.
The price has the potential to drop to a low of 2130, provided the price does not go above 2171.11. If it does, then the setup will need to be re-evaluated.
Happy Trading.
K.
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