GOLD: Break below the diagonal - signal for possible decrease
Bearish engulfing- The current bar is still not closed but absorbing the body of the previous bar - negative signal
Two pin bars trying to break below 1235
Indicators in a negative territory supporting a decrease
Fundamental: Increased risk appetite leads to a decrease in GOLD. The probability of tightening monetary policy in the US and Europe will put pressure on GOLD.
Alternative Scenario: If the price returns above 1245, it will change the negative formation to the scourge where we should enter long
Stefan D. Angelov - Head of Stocks Trading
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