Gold - Bearish Pennant with Momentum Divergence
XAUUSD is continually wanting to test new historical highs but will likely want to confirm the presence of support before the subsequent retest.
Wait for confirmation of a break from the rising channel before entering short, as the confluence of multiple macro events combined with this historical high could see a large blow-off spike upwards prior to any retracement.
Wait for confirmation of a break from the rising channel before entering short, as the confluence of multiple macro events combined with this historical high could see a large blow-off spike upwards prior to any retracement.
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