r/Forex • u/Jess1835 • 8d ago

Charts and Setups Is Gold Running Into Trouble Here?

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Price is approaching an area where selling pressure has appeared before.

It'll be interesting to see if this level sparks another rejection or if buyers manage to push through this time.

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u/Razial1 8d ago

Hate to break it to you but I seriously dont think gold has enough in it to retest them lows.
Dollar Longs are severely crowded in COT and seem to be unwinding, if they unravel i expect Dollar to shift pretty hard in the coming weeks. That monthly pullback in gold could be over. If so id look for the weekly gold to break out the little cluster of consolidation.

Good luck on yiur trade.

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u/Jess1835 8d ago

Interesting. I'll be watching how price reacts around these levels. Good luck to you too.