Trading Idea

GOLD: Pullback in short term?

From a technical point of view, the trend is bullish on the main time frames, but at the same time, in the short term, Gold has reached an interesting Resistance Area on the daily and intraday charts. That said, as shown on the 4H chart, from the resistance area Gold could trigger a pullback around the first or second Support Area. With this in mind, from next week we will look for some Reversal Patterns on smaller time frames (1H, 30′) that can confirm our idea.

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