XAUUSD - Gold trend selling strategy
Forecasting the gold price trend, the latest gold price survey shows that experts believe that gold will still find it difficult to find a price increase in a short time. However, the precious metal's decline will be capped by demand from the world's major central banks. A recent report by the World Gold Council shows that central banks have not finished the race to add gold to their reserves.
Technically, bears have the overall short-term technical advantage. The price is in a 3-week downtrend on the daily bar chart. The fundamental price introduction's next upside objective is to produce a close above solid resistance at $2,000/ounce. The next near-term downside downside price limit downside is for futures consolidation to fall below solid technical support at $1,900 an ounce.
Technically, bears have the overall short-term technical advantage. The price is in a 3-week downtrend on the daily bar chart. The fundamental price introduction's next upside objective is to produce a close above solid resistance at $2,000/ounce. The next near-term downside downside price limit downside is for futures consolidation to fall below solid technical support at $1,900 an ounce.
✅ TP1: 1907
✅ TP2: 1900
🛑 SL: 1918