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Title
Gold potential for bearish drop towards overlap support
Type
Bearish Drop
Preference:
Looking at the H4 chart, my overall bias for Gold is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
With price breaking the ascending channel, expect price to drop from the pivot towards the overlap support.
The resistance is here.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.