Chart in Focus: Daily XAUUSD
The spot Gold market found resistance at the key level near $1790.00 last Friday, and it subsequently formed a bearish pin bar rejection signal off that key resistance level. If price remains below that resistance on a closing basis this week, we could see a rotation to the downside. This market has not had a significant retracement recently after its huge surge higher over the last few weeks, so Friday's pin bar rejection of resistance is a significant signal to consider.
The spot Gold market found resistance at the key level near $1790.00 last Friday, and it subsequently formed a bearish pin bar rejection signal off that key resistance level. If price remains below that resistance on a closing basis this week, we could see a rotation to the downside. This market has not had a significant retracement recently after its huge surge higher over the last few weeks, so Friday's pin bar rejection of resistance is a significant signal to consider.
