Gold price is at a key resistance level and it would be a good place for it to start going up from here but I see several bearish signs confirming further downwards movement. Big volume and only slight movement up on February 8th followed by a bearish engulfing candle the next day is the main sign. I'm predicting the price will go down to the next support slope within next week.
Note
Price might form a three drives up pattern before continuing down: Note
There is a a hidden bearish divergence on 4h chart for stochastic and other oscillators so I suspect the price will start going down from here: Order cancelled
Price keeps going up breaking support level so this set up has been invalidated.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.