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💡 XAUUSD: Break the rising trendline

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After two short accumulation sessions, the downward momentum continued in the weekend session. The price has now broken the rising price channel and approached the price level of 2000. This is also the target for short positions, you should consider closing. profit for short positions. Next, pay close attention to the 2000 price range. If it is broken, the downward momentum can quickly expand to the 1930 range, and beyond that to 1900. You can continue to consider selling if there is a reliable breakout signal.

SELL - TARGET 1930

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RUNNING +50pips

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Last week, the yellow metal continuously plummeted after hitting an all-time high at the beginning of the week and anchoring nearly 2,000 USD/ounce. Kitco News' latest weekly gold survey shows most retail investors still expect prices to rise this week, while the majority of market analysts have turned bearish or neutral on the outlook. Short-term outlook for the yellow metal.

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