Gold update: Pinbar and resistance point to lower prices
Hi traders, here's a quick update on gold. As you know, 've been overall bearish on gold in the last few days, and the price has indeed fallen to a large extent.
Recently, gold broke below the previous swing low, forming a fresh short-term lower low and signaling that more weakness might be ahead.
The last 4-hour candle is forming a pinbar pattern right at the horizontal resistance level, which may lead to selling pressure and a new down-move.
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Recently, gold broke below the previous swing low, forming a fresh short-term lower low and signaling that more weakness might be ahead.
The last 4-hour candle is forming a pinbar pattern right at the horizontal resistance level, which may lead to selling pressure and a new down-move.
Find this analysis helpful? Please hit the "LIKE" button to support. Thanks!
