The risk-averse money flow has temporarily prevented the fall of gold.
Still, on the four-hour time frame, the analysis is valid, bearish current dominates the market, but the recent decline has not completed its corrective movement wave theory in standard proportions.
In the daily time frame, yesterday's candlestick is an Inside Day pattern, which indicates stagnation in the middle of the trend.
Breaking the bottom of the previous day is a sign of a violation of stagnation and the possibility of increasing momentum in the direction of the trend.
The momentum of the daily time frame has also stabilized its downward turn.
As long as the price remains below the $1785-$1787 area, a further decline to $1750 is expected.
Still, on the four-hour time frame, the analysis is valid, bearish current dominates the market, but the recent decline has not completed its corrective movement wave theory in standard proportions.
In the daily time frame, yesterday's candlestick is an Inside Day pattern, which indicates stagnation in the middle of the trend.
Breaking the bottom of the previous day is a sign of a violation of stagnation and the possibility of increasing momentum in the direction of the trend.
The momentum of the daily time frame has also stabilized its downward turn.
As long as the price remains below the $1785-$1787 area, a further decline to $1750 is expected.
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