Although it increased on Friday, the gold bar D1 created a bearish pinbar pattern, showing that there is a blocking selling force above. Gold is in a resistance zone and such price behavior is a warning sign. Gold D1's chart structure is sideways overall with a bullish bias.
H1 gold recently established a new high price peak, showing the continuation of the upward price trend. Because D1 creates a bearish pin bar, H1 should not be chased above but can wait to buy below. If this resistance is broken, H1 gold may reverse to the downside, and we can wait to sell gold at the next retest.
H1 gold recently established a new high price peak, showing the continuation of the upward price trend. Because D1 creates a bearish pin bar, H1 should not be chased above but can wait to buy below. If this resistance is broken, H1 gold may reverse to the downside, and we can wait to sell gold at the next retest.
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