🏆GOLD ANALYSIS

❗️May closed with a long-tailed monthly candle, it's now clear that we have 2 consecutive long-tailed candles, which strongly suggests that the GOLD is struggling to stay above the key resistance level of 2400 - indication that the market is likely to continue its downward trend📉

Furthermore, considering the 🌦seasonality indicator - June is typically a 🐻bearish month, we can expect a bearish move in the near future.

SUMMARY: we should be cautious and prepared for a potential decline.

✔️On the 4H chart, we can see that the market recently completed an impulse leg down, followed by a pause that lasted for week. This pattern suggests that there's a high likelihood that we'll see a second impulse leg develop in the near future.

✔️On the daily timeframe, we may see a broadening triangle formation developing, which could be a sign of the upcoming consolidation.

As such, we must remain vigilant and adapt our approach as new information arises.