XAUUSD: high 2420Sell, target 2402
The overall performance last week was good and the winning streak was maintained. I hope it can be continued this week.
Gold's opening performance today was average, and the upward trend was not as strong as last week. The short-term pressure of 2420 has been unable to break through many times. This is likely to be a signal of peaking. At the same time, the high head and shoulders structure can be clearly seen on the daily chart. This is a downtrend pattern.
Judging from (1H), it is currently in a high-level and wide-ranging state of shock, and now it has once again reached the pressure area of 2420, and is stagflation here again. Since it cannot break through, it will fall again. Therefore, I think we can sell near 2420, with the target set at the previous lows of 2402 and 2395.
Gold's opening performance today was average, and the upward trend was not as strong as last week. The short-term pressure of 2420 has been unable to break through many times. This is likely to be a signal of peaking. At the same time, the high head and shoulders structure can be clearly seen on the daily chart. This is a downtrend pattern.
Judging from (1H), it is currently in a high-level and wide-ranging state of shock, and now it has once again reached the pressure area of 2420, and is stagflation here again. Since it cannot break through, it will fall again. Therefore, I think we can sell near 2420, with the target set at the previous lows of 2402 and 2395.
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