Gold recently hit its yearly high with strong buying volume, but with a lack of consolidation. A 4hr bearish rail candle and daily pinbar suggest a short-term selling trend, possibly leading to a retracement to the previous support level.
Note
Gold is dealing with the major rejection in order to push further down
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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.