GOLD (XAUUSD): Signals Of Slowing Momentum?!
Gold hit a new record high last week, but recent indications on a 1-hour timeframe suggest that bullish momentum is waning.
After a strong price increase, we are now seeing a series of diminishing price movements within a rising wedge pattern.
Following the release of significant news today, there was a notable price drop that broke through a support line in the rising wedge. This downturn may persist, with the next support level potentially at 2,600.
After a strong price increase, we are now seeing a series of diminishing price movements within a rising wedge pattern.
Following the release of significant news today, there was a notable price drop that broke through a support line in the rising wedge. This downturn may persist, with the next support level potentially at 2,600.
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