XAUUSD| Monthly Overview
Checking to the monthly timeframe which indicating that price is in fragile situation may lead it to go down as its in the Supply zone( Sell zone) at a between 1760-1800 if if the on going month candle closes on these area
prices rejected on 1st September 2011, 1 Feb 2012 sept , and oct 2012 it led to fall up to 1522 and 1180 zones.,
as showing previous month candle closes as Bearish continuation candle although price broke the support level of 1800-1788 and its requested to retest its broken zone before it go down deeply, however its possible to continue and change into bullish direction as lower time indicates but for weekly time agrees with Monthly candle to take bearish direction at 1800 where more sellers are ready to short.
more on that let us watch and wait for few days till the monthly candle close,
thanks for your comment and Suggestions #FeelFree
prices rejected on 1st September 2011, 1 Feb 2012 sept , and oct 2012 it led to fall up to 1522 and 1180 zones.,
as showing previous month candle closes as Bearish continuation candle although price broke the support level of 1800-1788 and its requested to retest its broken zone before it go down deeply, however its possible to continue and change into bullish direction as lower time indicates but for weekly time agrees with Monthly candle to take bearish direction at 1800 where more sellers are ready to short.
more on that let us watch and wait for few days till the monthly candle close,
thanks for your comment and Suggestions #FeelFree
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