XAUUSD: Will 2680 reverse? Beware of a sharp drop coming

2024年11月21日

As Ukraine used its allies' weapons to attack Russia yesterday, Putin lowered the threshold of nuclear policy. This escalation of the geopolitical situation boosted risk aversion, causing gold to break through the resistance level of 2640 in one fell swoop, and the current price reached around 2670.

Judging from the resistance point, the top is about to face the key point of 2680, and the price of gold is also likely to touch this line. I have already pointed out from the 1H chart that gold is currently in a top divergence form. Although the price continues to rise, the MACD kinetic energy peak below is constantly decreasing. This is obviously a form of divergence, so we must be cautious. Be bullish, especially be aware of the risks posed by pullbacks.

My trading strategy today is to observe the resistance of 2680. If it cannot break here, you can choose to sell here, with targets of 2650 and 2620

2024年11月21日

交易進行

The price of gold has just had a brief decline, but now it has risen again. It is likely to continue to try to touch the resistance of 2680.