GOLD price is drawing a negative pattern
Hello everyone,
GOLD 4H NEW FORECAST
The price of gold has been trading negatively in the past sessions, approaching the pivotal support 2160, and by closely looking at the chart, we find that the price is forming a double top pattern that may force the price to begin a downward correction of the rise that started from the 2177 areas, but we notice that the technical indicators provide positive signals that are trying to prevent... The price is expected to decline further.
noting that breaking the support 2160 will confirm the start of the downward correction and open the way for heading towards 2146 as a first negative target, while breaking the resistance 2177 represents a positive factor that will invalidate The proposed model leads the price to achieve new gains starting at 2202.
GOLD 4H NEW FORECAST
The price of gold has been trading negatively in the past sessions, approaching the pivotal support 2160, and by closely looking at the chart, we find that the price is forming a double top pattern that may force the price to begin a downward correction of the rise that started from the 2177 areas, but we notice that the technical indicators provide positive signals that are trying to prevent... The price is expected to decline further.
noting that breaking the support 2160 will confirm the start of the downward correction and open the way for heading towards 2146 as a first negative target, while breaking the resistance 2177 represents a positive factor that will invalidate The proposed model leads the price to achieve new gains starting at 2202.
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