Gold – Bearish bias below 1238 !

24
1876

The XAUUSD continued its bearish momentum last week, printed resistance at 1238 levels, Initial bias is neutral this week, near term outlook stays bearish as long as 1238 resistance holds, sustained break of 1187  will pave the way towards 1168 ahead of 1133 levels.

On the upside, a sustained trading above  1238 will turn bias back to the upside for a rebound towards 1276 resistance, break of 1276 would open 1300 next…

Overall, the XAUUSD will remain biased to the downside with risk towards 1187 ahead of 1168 levels as long as 1238 holds on a daily closing basis, break of 1238 would reverse risks to the upside towards 1276 and above.

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

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