Gold price experienced a sudden change in direction yesterday, reaching a new all-time high near the psychological level of 2,600 leaving a bull trap and bearish engulfing candle on a daily chart.
Analyzing the hourly time frame, GOLD broke through two key intraday structures - a horizontal support level and a rising trend line - with a single bearish candle.
This breach has created an expanding sell zone. I predict a bearish movement towards the 2546 and 2533 support levels.
Analyzing the hourly time frame, GOLD broke through two key intraday structures - a horizontal support level and a rising trend line - with a single bearish candle.
This breach has created an expanding sell zone. I predict a bearish movement towards the 2546 and 2533 support levels.
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Join our Telegram channel for daily market update 👇👇
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For paid signal👇👇 t.me/linofx1999
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.