After looking at the XAUUSD
graph we see that it hits an area of resistance every time it gets to the top resistance level
. After it hits this point there has been a huge sell off down to the middle support level
. We saw that it hit the resistance level
and since then there has been a sell off. I believe that it still has potential to go down further before doing a reversal and hitting new highs.
This is my first post and analysis and it would be great to see what you guys think