10.12.2022 XAU/USD Technical analysis (Daily time frame)

Chart XAU/USD

MACD XAU/USD

RSI XAU/USD

Volumes XAU/USD

Bulls and Bears XAU/USD

Did the gold found a bottom or could the price go even lower? That’s a good question. I think that the bottom was found and now, we can expect bigger correction, which can start this week. All we wait for is a break of bullish trendline to confirm divergences on various indicators. Price action looks very clear and as it seems a bullish flag can be created, so if you end up going short be careful around the bottom border of this flag. Next price target in price falling scenario can be marked support. So, for this week I´m definitely short bias. And what’s your plan?

And now is time for profits!

written by Filip Lemon