#GOLD
GOLD is retracing following the bullish momentum. The market has rejected the resistance and bounced off it. Price is struggling to make new highs. As you can see, the market created a head-and-shoulders pattern, which is a reversal pattern. The market is likely to pullback from the major resistance.
GOLD is retracing following the bullish momentum. The market has rejected the resistance and bounced off it. Price is struggling to make new highs. As you can see, the market created a head-and-shoulders pattern, which is a reversal pattern. The market is likely to pullback from the major resistance.
#GOLD
GOLD is making higher lows, meaning bears failed to push the price lower. The market broke and closed above the resistance at 2030, which became support. The market bounced off this support twice, and probably if it holds, the market may move to resistance. We anticipate the price to complete the AB=CD pattern.
GOLD is making higher lows, meaning bears failed to push the price lower. The market broke and closed above the resistance at 2030, which became support. The market bounced off this support twice, and probably if it holds, the market may move to resistance. We anticipate the price to complete the AB=CD pattern.
#GOLD
GOLD is creating the AB=CD pattern in the descending channel. The market broke and closed below the reaction zone at 2038 and the triangle formation. Price action is likely to test the support level, completing the D point. We expect a test of the support level. Contraction led to expansion.
GOLD is creating the AB=CD pattern in the descending channel. The market broke and closed below the reaction zone at 2038 and the triangle formation. Price action is likely to test the support level, completing the D point. We expect a test of the support level. Contraction led to expansion.
#GOLD
Gold played out the recommendation perfectly. The test of the 4,435 resistance, along with the subsequent retest, confirmed the weakness of buyers. The weak fundamental backdrop intensified selling pressure, which in turn led to a fairly sharp decline
Gold played out the recommendation perfectly. The test of the 4,435 resistance, along with the subsequent retest, confirmed the weakness of buyers. The weak fundamental backdrop intensified selling pressure, which in turn led to a fairly sharp decline