Gold is currently showing signs of Bearish market directionality on the 4 hour timeframe with price trading below the 50 SMA and RSI showing bearish sign trading below 45. This is a retracement in the context of the higher timeframe but price has the potential to continue all the way down to $3250. We could potentially see a retest of $3340 (potential break-and-retest level) before price down to $3250
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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.