✴️ GOLD Daily timeframe. Feb.13 - Feb.17

Gold is forming a transitional set-up and seems to be changing trend. A bearish takeover, the flag and the general situation looks rather negative for the gold market

1) The fundamental factor continues to weigh on the futures price quite strongly.
2) At the same time the central banks of many countries, which are set to reduce the impact of dollar on their policies continue to actively buy gold
3) Perhaps, the second point is partly the reason of weakening of price.
4) On the local chart we see a strong bearish impulse and a stop of the price in the area of 1881-1865, where the pattern "flag" is formed
5) The flag is a pattern of continuation of movement, hence the subsequent exit from the flag and the test of the 1850 area indicates a bearish mood of the market
6) On Monday the price is likely to continue consolidation in the area of 1858-1868.
7) Medium-term outlook - bearish direction

The market is testing lows. The risk and panic zone for a global trend change is support 1825. At the moment it is worth to be cautious about buying, and to look for strong zones for selling

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