Gold: Complex Double Top, Will it be The End of Bullish Trend?
Hello Fellow Gold Investor/Trader, Here's a Technical outlook on Gold!
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Chart Perspective
The XAUUSD is breaking out of the neckline of a complex double-top pattern. Breaking out of complex double-top indicates a potential trend reversal from bullish to bearish. The MACD Indicator already made the death cross. The death cross signals a possibility of downside movement to the target area ahead.
Macroeconomic:
1. Potential Hiking Interest Rate ahead to ease Inflation
2. Stronger Dollar can make XAUUSD goes lower too
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the Gold"
Support the channel by giving us thumbs up and sharing your opinions in the comment section below!
Chart Perspective
The XAUUSD is breaking out of the neckline of a complex double-top pattern. Breaking out of complex double-top indicates a potential trend reversal from bullish to bearish. The MACD Indicator already made the death cross. The death cross signals a possibility of downside movement to the target area ahead.
Macroeconomic:
1. Potential Hiking Interest Rate ahead to ease Inflation
2. Stronger Dollar can make XAUUSD goes lower too
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the Gold"
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