Gold Speculation
Pivot points from 6M, 3M and 1M. Shown as well are the S&R levels from 3M and 1M. Here we can see key levels within the trendlines drawn on the 1M timeframe. Price trading below the three major PP means there's strong selling pressure. Here we could also see significant supply/demand zones from the past. Stochastic Oscillator on the daily is at 50% while the 4H shows the overbought level was barely reached. Might be wiser to wait a bit if price action will try to reach the three possible resistance levels before proceeding lower. But of course, this is just speculation, anything can happen.
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