GOLD (XAU/USD) – Week 4 - November lows Incoming pt. 3
After seeing an unexpected jump on Wednesday, when Joe Biden was being sworn in as president of the United States, the $1,870 oz level turned out to be a strong resistance point for Gold as it retraced back to the $1,850s area.
Last week, we pointed out in our Gold analysis that we expect a consolidation to start in order to gather up enough price momentum so it can retest the November lows. So far, so good, the price went as we forecasted in our previous analysis, as our expectations for this week stand towards a continuation of the 4H bearish trend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Last week, we pointed out in our Gold analysis that we expect a consolidation to start in order to gather up enough price momentum so it can retest the November lows. So far, so good, the price went as we forecasted in our previous analysis, as our expectations for this week stand towards a continuation of the 4H bearish trend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed manually:
Price moved as expected. We will now wait for a last push to the south.
