Downward structure has a kind of abnormality, which consists in the fact that the size of daily bearish swing entirely coincides with H1-swing. Having such structure the sellers barely won’t have fuel for further decline.
Given that the structure doesn’t have an upswing so far, we can expect a pullback of gold to resistance zone 1771.39-1773.38 with following development of new downward movement in direction 1743.45-1746.86.
Gold probably will extend decline in direction 1743.45-1746.86. But market can perform a prior testing of 1771.39-1773.38.
Shorts from 1771.39-1773.38 to 1743.45-1746.86.
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