Hello, dear members of LeoFinance!
Just a short update on the price chart of Gold (XAU/USD).
So, in my previous analysis I mentioned that, in my view, there was a slight bearish signal in the monthly price chart of XAU/USD.
Now I would like to point out to some other bearish signals. In the weekly chart (1W), there is already one Bearish Engulfing that formed the last local high (actually the all-time high). Moreover, the current weekly candlestick is trying to form a Bearish Engulfing:
In my view, if at the end of this week another Bearish Engulfing forms, I will consider it as a bearish signal, indicating to potential further price decline.
To be continue ...
So, fellow LeoFinancier, what do you expect from the price of Gold in the near future?
p.s. at the time of writing one XAU/USD is at the level of $1878.65, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
Learn How To Earn PRE Tokens By Using Presearch Decentralized Search Engine
Join the crypto exchange Binance: https://www.binance.com/en/register?ref=28017531
Join the crypto exchange Bittrex: https://bittrex.com/Account/Register?referralCode=3GB-QAJ-BMW