As May closed with a long-tailed monthly candle, it's now clear that we have two consecutive long-tailed candles, which strongly suggests that the
XAUUSD
is struggling to stay above the key resistance level of 2400. This pattern is a significant indication that the market is likely to continue its downward trend. Furthermore, considering the seasonality indicator, which indicates that June is typically a bearish month, we can expect a bearish move in the near future. This combination of technical and seasonal analysis suggests that we should be cautious and prepared for a potential decline.
XAUUSD is struggling to stay above the key resistance level of 2400. This pattern is a significant indication that the market is likely to continue its downward trend. Furthermore, considering the seasonality indicator, which indicates that June is typically a bearish month, we can expect a bearish move in the near future. This combination of technical and seasonal analysis suggests that we should be cautious and prepared for a potential decline.
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