Great way to start the week!

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@dovyfx_live_bot

US30

DAILY
Currently retesting neckline of the head and shoulders pattern. Overall bearish looking structure. Daily candle has no wick at the bottom + gap below on lower timeframes

2H
We can see how previously the price has already rejected the neckline, so we can expect a similar situation now as the price is rejecting the neckline + peek in volume at just around 33300-33400 area.

US100

DAILY
Very similar situation, but just a bit more bearish price action as the price is trading way below the neckline + gap below on lower timeframes.

2H
Also volume peak on move down + indecision candle gives us a nice 2H supply area where we can continue to look for short opportunities.

XAU/USD (gold)

WEEKLY
3 weekly candles failed to close above resistance, so my bias on gold stays short-mid term bearish. You can also see on the chart that the price might be forming an inverse head and shoulders on the weekly timeframe, so if the price starts moving lower I think it could go down to 1700ish area.

2H
Price is currently at a critical level which is basically a level where key areas from multiple timeframe collide. Will be waiting for confirmation for entry to go short.

Note!
Will not consider the weekly resistance broken until WEEKLY CANDLE CLOSES above the level. Only if that happens, I will continue to look for buy positions.