– Expected Drop $XAUT

I expect the decline to continue for the following reasons:

1. The dollar is still the primary safe haven, and gold is priced in dollars.

2. The Federal Reserve will keep interest rates high due to rising oil prices resulting from geopolitical tensions.

3. Technical indicators are weak:

· Very low trading volume (9.52 compared to an average of 99).

· Support at 4,440 – 4,460 seems weak.

Target levels:

· 4,420

· 4,370 – 4,350

· 4,300

Strategy:

Enter a sell after breaking 4,440, with a stop loss above 4,550.

Note: Breaking 4,600 may invalidate the scenario.

What do you think?

XAUT

4,470.6

-0.41%