XAU - NEAR EXHAUSTION
XAU has seen a nice run from sub 1700 to over 1900 last week.
Now it seems we are reaching the top of the downward channel we have been in since the ATH last year.
However, we are looking to be exhausted & cashflow is bleeding out of the asset.
So, we shall keep a close eye on both the ray close to 1900 & the ray used as the recent uptrend.
If the recent uptrend is broken, expect a dump back down to atleast 1800.
If we break the downtrend ray, expect to retest xau all time highs.
Dyor in Dior.
Now it seems we are reaching the top of the downward channel we have been in since the ATH last year.
However, we are looking to be exhausted & cashflow is bleeding out of the asset.
So, we shall keep a close eye on both the ray close to 1900 & the ray used as the recent uptrend.
If the recent uptrend is broken, expect a dump back down to atleast 1800.
If we break the downtrend ray, expect to retest xau all time highs.
Dyor in Dior.
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