Recovery at Bullish Support within a Long-Term Bearish Trend
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In this XAU/USD (gold vs. US dollar) chart, we observe that the price has reached a key support level, generating a short-term bullish momentum. However, when examining the broader context across higher time frames, the prevailing trend remains bearish. This suggests that the current upward movement may be temporary or limited unless the price breaks through significant technical levels, indicating a potential trend reversal.
It’s important to clarify that I am not a financial advisor, and this analysis represents a personal interpretation of the observed chart structure.
It’s important to clarify that I am not a financial advisor, and this analysis represents a personal interpretation of the observed chart structure.
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It´s a good time to take some profits or close partial positions and set the remaining position to break even
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