3 min readGOLD (XAU/USD):
As discussed in previous articles, I was particularly interested in observing how Gold would respond at these lower levels, especially given earlier indications of the price being “overbought” based on the RSI indicator.
A closer examination of the technicals on the daily time frame reveals a potential shift, suggesting that the market could be turning bearish in the short term. I will be monitoring closely to determine whether the price resumes its upward movement, indicating this was merely a liquidity sweep, or if it continues to trend lower, potentially rebalancing around the 50% Fibonacci level.
Author
Risk Disclaimer Disclaimer: The information provided does not constitute, in any way, a solicitation or inducement to buy or sell any of our products.
Any material presented under this section of our website is not intended and should not be considered investment research or investment advice. Any Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. The recipient acknowledges that he/she is solely responsible for any trading decisions taken.
Risk warning: Our products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. If you do not understand the risks involved, or if you have any questions regarding our products, you should seek independent financial and/or legal advice if necessary. Past performance of a financial product does not prejudge in any way their future performance.
