Signal XAUUSD Sell — M5 - July 16, 2026 07:08 GMT-4
On the XAUUSD M5 chart the market has been carving a descending channel since the early‑July swing high around 4034. The last three candles closed lower than the prior highs, with the most recent close near 4031, while the bullish volume spikes seen at 4084 and 4056 have evaporated, indicating waning buying pressure. Key resistance now sits at the 4032‑4034 cluster, which has turned into a ceiling as price struggled to break above it. The contraction in volume combined with lower‑high closes suggests a bearish shift, making a short entry near the current price logical. The stop‑loss is placed just…