Additional downward pressure
On Thursday, the gold price confirmed a Bear Flag by closing the day below the rising trendline support at $1,871. The bearish continuation pattern has given gold sellers extra zeal as they challenge the critical 200 Moving Average at $1,855.
"The downside bias remains favorable, with a sustained move toward the January 5 low of $1,825 anticipated if the $1,850 support fails."
"Any recovery attempts will need to retake the bear flag support-turned-resistance at $1,871. The static resistance level at around $1,885 is the next stop for gold bulls."
On Thursday, the gold price confirmed a Bear Flag by closing the day below the rising trendline support at $1,871. The bearish continuation pattern has given gold sellers extra zeal as they challenge the critical 200 Moving Average at $1,855.
"The downside bias remains favorable, with a sustained move toward the January 5 low of $1,825 anticipated if the $1,850 support fails."
"Any recovery attempts will need to retake the bear flag support-turned-resistance at $1,871. The static resistance level at around $1,885 is the next stop for gold bulls."
コメント:
✅ TELEGRAM CHANNEL: t.me/+VECQWxY0YXKRXLod
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🇺🇸 US ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: www.instagram.com/forexn1_com/
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🇺🇸 US ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: www.instagram.com/forexn1_com/
