Gold Outlook
Good afternoon all!
Looking at Gold from a 4H perspective, we see that price is currently in a downtrend as evidenced by the LowerHighs and LowerLows. We can see that support has been found at $2160-2150 and resistance at $2190-2180 on the 4H timeframe. I expect her to make a push to retest the new resistance zone that can be seen on the rectangle box. A candle closure above this area would indicate a possible trend reversal but confirmations on the higher timeframe would be needed to enter on a swing.
Looking at Gold from a 4H perspective, we see that price is currently in a downtrend as evidenced by the LowerHighs and LowerLows. We can see that support has been found at $2160-2150 and resistance at $2190-2180 on the 4H timeframe. I expect her to make a push to retest the new resistance zone that can be seen on the rectangle box. A candle closure above this area would indicate a possible trend reversal but confirmations on the higher timeframe would be needed to enter on a swing.
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