https://www.tradingview.com/x/23rwZEqE/
This is the 4hour chart for Gold. Notice the current candle how bearish it is.....bears-pinbar!.
See my yellow 9ema is crossing down on the dark blue 50ema. That is also a very bearish occurrence.
Now 2482 is the neckline of an M_top system on the 4HR. Please read this article that I wrote at the weekend. I said that a breach of 2482 and the Gold price could wind back to around 2432/34 area, whereby at that level is the 50EMA on the daily.
Look it may not happen tonight because there is no news impending that could prompt a sell-off. But I see this as a scenario that could play out this week.
This is the 4hour chart for Gold. Notice the current candle how bearish it is.....bears-pinbar!.
See my yellow 9ema is crossing down on the dark blue 50ema. That is also a very bearish occurrence.
Now 2482 is the neckline of an M_top system on the 4HR. Please read this article that I wrote at the weekend. I said that a breach of 2482 and the Gold price could wind back to around 2432/34 area, whereby at that level is the 50EMA on the daily.
Look it may not happen tonight because there is no news impending that could prompt a sell-off. But I see this as a scenario that could play out this week.
Note
Here is the article I wrote at the weekend 
Note
Price getting ready to turn down I senseNote
Hourly Chart & Price struggling to hold support here around the yellow 9ema and the inverse cup systemNote
A battle going on here between bulls and bears. Fib level did not hold. But some resistance off the 200ema on 5m. Gold is a bit oversold on the stochastics and rsi.Order cancelled
2501:05 taken out:Note
We are near the neckline. This has already had a retest from what I can make of it.
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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.