This week was very bearish for Gold. We saw 5 consequent bearish days.
The price is trading within a peculiar confluence zone at the moment. It is based on fib.retracement levels and a wide horizontal demand area.
I believe that the market is quite oversold now and we may see a pullback. As a confirmation, you can consider buying a bullish breakout of a falling wedge pattern on 4H time frame.
I will watch gold carefully next week and will post an update once I spot a confirmation.
Good luck next week!
❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
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.