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Gold Violates Intraday Support – Sell Signal

Gold – XAU/USD Long-Term Trend: Bullish

Key Resistance Levels: 1848.50, 1849.90, 1852.15

Key Support Levels: 1844.00, 1842.60, 1840.35

Daily Chart:

Gold is trading bullish at 1,863 area, having entered into the overbought zone. The precious metal is now looking to break lower in order to complete Fibonacci retracement. On the daily timeframe, the violation of 1,863 support level can extend selling trend until the target level of 1,852 and 1,841 level.

XAU/USD Medium-Term Trend: Neutral

1-hour Chart:

Signal Idea:

On the hourly timeframe, the yellow metal gold has violated an upward channel that’s suggesting strong odds of selling. Let’s take a sell trade around 1,862 level to target 1,855 and 1,851 level today.

Sell Order @ 1,862

TP 1 @ 1,855

TP 2 @ 1,851

Stop Loss @ 1,865

Trade Safely 🙂

About Ali B.

Live Webinar Speaker & Derivatives (Forex, Commodities, and Indices) Analyst with the broad range of skills for evaluating financial data. Expert in investment trends, technical analysis, fundamental analysis, market sentiments, and trading psychology.

4 comments

  1. Please try to include the timeframe for beginners

  2. Hey the market is @1857 rn so should i place a sell limit af 1862 or sell at market price.thanks ali

  3. Hey ali Should i sell right now or when proce goes back up to 1862

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