VIP MARKET UPDATE: $XAU
➖➖➖➖➖➖➖
$XAU closed around 5,020 yesterday, and the key takeaway was the daily close back below the rising trendline, which had been acting as support for weeks. That kind of break usually signals that momentum is cooling, and it often forces price to either retest the broken line from below or accelerate into a deeper reset.
For next week, the market’s basically at a fork. If gold can reclaim and hold back above that trendline area, the dip can turn into a quick shakeout and continuation.
If it keeps closing below it, the next focus shifts to the prior base around ~4,950, and a loss there opens room for a cleaner pullback. With geopolitical risk still elevated, expect sharp moves and fast reversals. We’ll track the first sessions closely and update as the week unfolds.
➖➖➖➖➖➖➖
- Binance Killers®
• Sent via TeleFeed