Failure to breach the falling trend line adds credence to the bearish break from the rising channel seen earlier this week. This coupled with the head and shoulder pattern on the RSI suggests the metal is more likely than not to take out support around $1247 and test demand around $1240 levels ahead of the weekend.
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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.