July 14, 2016

GOLD Bearish price action

  • Gold Weekly chart trying to form a Bearish engulfing pattern.
  • 15 Minutes chart is moving down in a bearish channel.
  • One hour is below Ichimoku cloud. Gold bears need price to trend below the cloud for a bigger down move to happen.
  • For Gold bears price need to close at the current levels or lower to confirm the bearish engulfing pattern.

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