GOLD has been trending downwards after weeks of bullish price action. Price has formed bearish AB=CD and bearish rectangle patterns. These are both bearish continuation patterns, which indicate potential downward pressure on price. Bullish divergence has formed on 1 hr chart and if price breaks the lower high, we can expect bullish momentum in the short term!
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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.