Gold has had 5 consecutive days of decline, as shown by the candlestick chart at the 1-day time frame
This is a good opportunity for buyers, because the upward pressure is quite large. In particular, in the context that the FED is likely to temporarily suspend interest rate increases.
At least, the opportunity to BUY with day traders - day trading is present, and has a fairly high probability of winning.
Analyzing at the 4-hour time frame, it is easy to see that the price has broken the uptrend line. However, overall, the official downtrend has not been established.
Finally, consider the 30-minute time frame - the main time frame for scalping investors. The downtrend channel has formed, however the struggle at the current price range is clearly evident (through trading volume).
With the above signals, CaPhiLe.Com boldly predicts that today there will be an increase in the price of Gold. At least, it will take place from the Asian Trading Session, until before the US trading session begins.
Note: This opinion is the author's own opinion, please consult and consider carefully before deciding.
Wish you good luck and success.
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