Gold (XAUUSD) Price Turns Favorable for the Bears

Market Analysis- July 27

Gold (XAUUSD) price turns favorable for the bears. The sellers are outsmarting the buyers and pushing the yellow metal price down. After a bearish trend towards late June, the buyers attempted to break into the 1981.460 market zone. However, the sellers managed to push them back. This week, the buyers have also tried to break through the 1981.460 market level, but the sellers were able to prevent them from doing so. The buyers had previously pulled up from the 1903.930 key level. They added to their strength until they were stopped from going further.

Gold (XAUUSD) Market Zones

Resistance Zones: 2055.570, 1981.460
Support Zones: 1938.000, 1807.240

Gold (XAUUSD) Long-Term Trend: Bearish

The buy traders have been determined to break through the important 1981.460 market level. But surprisingly, the sellers have managed to outdo them and regain control of the market. The current market situation is undoubtedly favorable for the bears. This is because the Gold (XAUUSD) price is now declining. The sellers have been able to prevent the buyers from breaking through. This has allowed them to influence the market. It remains to be seen how the buyers will respond in the coming days and weeks.

The daily chart has seen a remarkable surge in sellers making progress in the market. The Stochastic Oscillator reveals that sellers are ready to capitalize on the opportunity to take advantage of their power. XAUSD continues to remain strong due to its high liquidity and this bearish deployment.

XAUUSD Short-Term Trend: Bearish

The 4-hour chart is also trading low. Should the market zone drop below 1938.000, this could be seen as a sign of more sell confirmation in the market. This means that sellers can take advantage of the current situation and capitalize on the opportunity. As a result, investors can expect to see a considerable drop in prices and an increased presence of sellers in the market.

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