Gold is looking bearish today because of multiple bearish signals at the entry point. And it is forming a possible lower high on a 1hr time frame.
Bearish Signals:
1. Lower High Lower Lows
2. Bearish Trendline
3. Resistance at 1650 & 1660
4. 0.786 Fib resistance
5. Divergence On multiple TFs
Bearish Signals:
1. Lower High Lower Lows
2. Bearish Trendline
3. Resistance at 1650 & 1660
4. 0.786 Fib resistance
5. Divergence On multiple TFs
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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.