XAUUSD Aims lower but hidden Bullish Divergence is emerging.
Last week (July 06, see chart below), we gave a strong Sell Signal on Gold (XAUUSD) exactly at the top of its 3-month Channel Down:
The price reacted very favorably and got rejected exactly on the spot, with the selling accelerating today towards June Low. Based on the pattern's Bearish Leg symmetry, our short-term Target continues to be 3800, representing almost a -10% decline from the last (Lower) High.
That will see the price coming closer to the 1W MA100 (black trend-line), a very strong long-term Support of the market. The signal that may be gradually showing that Gold's long-term bearish trend could be approaching its end, is a hidden Bullish Divergence on its 1D RSI.
This started a month ago on the June 10 Low and can technically be the gradual bottoming process of this long-term correction.
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The price reacted very favorably and got rejected exactly on the spot, with the selling accelerating today towards June Low. Based on the pattern's Bearish Leg symmetry, our short-term Target continues to be 3800, representing almost a -10% decline from the last (Lower) High.
That will see the price coming closer to the 1W MA100 (black trend-line), a very strong long-term Support of the market. The signal that may be gradually showing that Gold's long-term bearish trend could be approaching its end, is a hidden Bullish Divergence on its 1D RSI.
This started a month ago on the June 10 Low and can technically be the gradual bottoming process of this long-term correction.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน