XAUUSD, Daily
In the Daily time frame, XAUUSD navigates within a head-and-shoulders pattern and tests its “neck” and 2500 resistance level. The MFI oscillator shows a bearish oscillator with the asset, potentially indicating a bearish momentum.
- If the bulls push the price above 2500, XAUUSD will rise to 2600 resistance;
- A rebound from the 2500 resistance will drop the price to 2360 support.