$XAUUSD = Gold: Daily Analysis – Neutral = 01.07.2021 #GOLD #preciousmetals #XAUUSD

Gold is trying hard. Maybe not hard enough, as the price is still below the daily 8 EMA. Bearish pressure on the monthly and weekly could be the hurdle.

Expectations for tomorrow:

  1. If gold makes a green candle, similar to the last two, and it closes above ~$1790, it would make a Three White Soldiers with a good chances that the bottom is behind.
  2. However, if a green or red candle fails to close above ~$1780, there is a chance of a Falling 3 Methods being developed.

I will evaluate the formations after the closure tomorrow.

For the most recent monthly analysis and the mid- and long-term projections, follow the link below.

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