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💡 XAUUSD: Analysis May 27
After 3 consecutive days of decline, especially the last 2 days of strong decline, Gold D1 rebounded at the end of the week. But considering that bar D1 increased with a narrow amplitude and an upper shadow, and closed below half of the amplitude, the upward push was insignificant, and was even still blocked from selling from above. D1 Gold chart structure is reflecting a sideways trend in favor of price increases.
The main trend of H1 Gold is still down, shown by the gradually lower top and bottom structure. The current bullish cross pullback period can create a bear flag pattern - a chart pattern that continues the downward price trend. The main trend of H1 Gold today is to wait for selling from the resistances above.
💡 H1 trend: Gold moves sideways.
Today trading idea: Sell Gold.
The main trend of H1 Gold is still down, shown by the gradually lower top and bottom structure. The current bullish cross pullback period can create a bear flag pattern - a chart pattern that continues the downward price trend. The main trend of H1 Gold today is to wait for selling from the resistances above.
💡 H1 trend: Gold moves sideways.
Today trading idea: Sell Gold.
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