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.
Comment:
Price might form a three drives up pattern before continuing down:
Comment:
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.
