Hi traders, here's a quick update on gold. As you know, 've been overall bearish on gold in the last few days, and the price has indeed fallen to a large extent.
Recently, gold broke below the previous swing low, forming a fresh short-term lower low and signaling that more weakness might be ahead.
The last 4-hour candle is forming a pinbar pattern right at the horizontal resistance level, which may lead to selling pressure and a new down-move.
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Recently, gold broke below the previous swing low, forming a fresh short-term lower low and signaling that more weakness might be ahead.
The last 4-hour candle is forming a pinbar pattern right at the horizontal resistance level, which may lead to selling pressure and a new down-move.
Find this analysis helpful? Please hit the "LIKE" button to support. Thanks!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.