Gold trend reversed after the FOMC meeting

Sep 21, 2023

Gold prices continuously increased in the first half of the past session, approaching the target resistance level around 1950. However, after the FOMC announced the results of the September meeting, it turned down sharply, creating bearish candlestick patterns. Notable ones include a bearish engulfing candle on daily and a bearish pin bar on H4. Current price behavior shows the return of sellers. It is likely that the price will adjust downward after this signal. The target resistance zone is around 1900. Short-term reversal traders can consider selling positions. .

Sep 21, 2023

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Sell 1923 - 1925

Sep 23, 2023

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