Gold Daily Update
On the daily timeframe, gold broke the bullish trend line and formed a low at 1944.5, also creating a bearish pattern (head and shoulders) indicating a potential decline. Currently, on a smaller timeframe, gold broke the resistance to test the 2001 resistance level, and breaking through it would lead to a climb towards the next resistance at 2011-2013 for a retest of the broken area, after which a decline towards the support areas outlined in the analysis is likely.
Just to clarify, I'm only sharing my thoughts on this pair, not offering any trading advice.
Just to clarify, I'm only sharing my thoughts on this pair, not offering any trading advice.
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