Gold could visit year's lows

After a week of erratic movements characterized by spikes both up and down, XAUUSD bears succeeded in pushing the price below the 2030 median support level, reaching a low within the 2015 zone.
Subsequently, a reversal ensued, and the price has now rebounded above 2025. However, considering the new fundamental developments and the unlikelihood of a rate cut at the next meeting, Gold may encounter headwinds, potentially leading to further price declines and a revisit to the 2005 low.
Moreover, a break below this level would expose the significant technical support at 1980. The overall market structure remains bearish below the 2040 mark.

Kommentera:

After reversing perfectly from my sell poin, XauUsd dropped to short term support.
A break here would expose yesterday's low.