Gold had its second consecutive day of price decline after the news Employment Cost Index q/q and CB Consumer Confidence were announced.
The H1 gold price push down has broken through the accumulation price range above to go down, but has not created a new low price bottom and broken the latest bottom, so it has not created a downtrend. With the current downward pressure on prices, H1 gold can wait for a rebound to sell. If the price is pushed up to the old peak, it is a sign that H1 gold is stronger again, then you can wait to buy.
The H1 gold price push down has broken through the accumulation price range above to go down, but has not created a new low price bottom and broken the latest bottom, so it has not created a downtrend. With the current downward pressure on prices, H1 gold can wait for a rebound to sell. If the price is pushed up to the old peak, it is a sign that H1 gold is stronger again, then you can wait to buy.
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Yesterday's down bar D1 covered the previous down bar D1 to form a bearish outside bar model - the price bar surrounding the downtrend - showing good downward pressure.
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Today there will be two important news: ADP Nonfarm and PMI
