XAUUSD breaks down below support

0 100

Gold prices broke down below the support level of 1591.

This comes as price broke to the downside following the ascending wedge pattern. At the time of writing, prices are retesting the 1591 level once again.

If resistance forms here, then we expect a move to the downside. The lower support at 1534 level will be the likely support that will be tested.

Test your strategy on how gold will fare with Orbex - Open your account now. 


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.