Following a break of a significant support level on the daily chart, Gold tested a nearby support level. The price was consistently rising within a bearish flag pattern on the 4-hour chart.
The test of previous horizontal structure prompted a strong bearish response, causing the price to breach the flag's support level.
This indicates strong selling pressure and a likely continuation of the bearish trend. The target is set at 2300.
The test of previous horizontal structure prompted a strong bearish response, causing the price to breach the flag's support level.
This indicates strong selling pressure and a likely continuation of the bearish trend. The target is set at 2300.
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