XAU/USD: A Tactical Short as Gold Consolidates Gains

Unpacking the Current Market Structure

While my long-term conviction for XAU/USD remains firmly bullish, the current market structure presents a clear tactical short opportunity. Gold has seen a healthy run, but we're now observing a shift in immediate momentum. The current price of 2904.96 is indicative of this consolidation, coming off the daily high of 2927.52. We've also seen a -0.51%