Technical analysis: Gold’s advance stalls, prices tumble below $2,350
Gold’s retreat from all-time highs opened the door to form an Evening Star candlestick pattern. However, XAU/USD must close below the April 8 open of $2,329, which would pave the way for a deeper correction.
The XAU/USD first support would be the April 8 daily low of $2,303. Once surpassed, that could put downward pressure on the yellow metal and drive it to March’s 21-session high of $2,222. Further losses are seen at $2,200.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.