In weekly timeframe, I found a pattern that give us a clue for reversal next week.
Dark Cloud Cover is formed in the last week session, which is give us a sign to pullback in the Gold market, from this I can see that the Resistance Line from Symmetrical Triangle is still holding.
The buyers already attempt for about 3 times for breaching the Resistance Line but yet, here we are. We got a decline in the price last week.
From this scenario, I think gold will pullback to around 1247 area.
Wait and see for another opportunity.
Good luck and happy trading.
Please click " Like " if you find this analysis helpful.
Thanks!!!
Dark Cloud Cover is formed in the last week session, which is give us a sign to pullback in the Gold market, from this I can see that the Resistance Line from Symmetrical Triangle is still holding.
The buyers already attempt for about 3 times for breaching the Resistance Line but yet, here we are. We got a decline in the price last week.
From this scenario, I think gold will pullback to around 1247 area.
Wait and see for another opportunity.
Good luck and happy trading.
Please click " Like " if you find this analysis helpful.
Thanks!!!
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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.