Gold Technical Analysis: Examining a Bearish Scenario on the 4-H


On this time frame, a bearish scenario is unfolding. As seen, the consolidation zone has been broken and then retested, ultimately closing the week with a red candle. It seems that a correction in gold from the current price is not out of reach. If gold prices rise, above the consolidation pattern this scenario will be invalidated.
Supply and DemandSupport and ResistanceTrend Lines

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