- Gold 4 hour chart shows price continues to trade below the cloud. Price sold off as it neared the cloud.
- 50 Period SMA acted as strong resistance as well. There were 3 Bullish attempts which failed at this moving average.
- Now for a sudden bounce to happen price must get back into the pattern shown in 3rd chart.
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- ES 4 hour chart with crucial support levels
- Weakness if price falls below 2243 and 50 Period SMA.
- looks like a bearish head and shoulder type of pattern developing in 4 hour chart.
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