Potential Piercing Line on the weekly bouncing off support.
Closed above the 50% of the previous week's body.
The Daily finished with a Shooting Star.
Recently, This candle can funtion in two different ways.
1. Bulls lost out and bears brought price back down. More bearish movement.
2. A test of new highs followed by bulls pushing backing up and going higher.
This time, let's look at the previous canle and support and resistance as well.
Price is at strong S&R. the previous candle was a Hanging man. However, it closed slightly higher than the previous candle.
We have to see what Gold will do this week in order to fully understand what these candles could mean.
Closed above the 50% of the previous week's body.
The Daily finished with a Shooting Star.
Recently, This candle can funtion in two different ways.
1. Bulls lost out and bears brought price back down. More bearish movement.
2. A test of new highs followed by bulls pushing backing up and going higher.
This time, let's look at the previous canle and support and resistance as well.
Price is at strong S&R. the previous candle was a Hanging man. However, it closed slightly higher than the previous candle.
We have to see what Gold will do this week in order to fully understand what these candles could mean.