ðĄ XAUUSD: Analysis December 19
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Despite the increase, yesterday's D1 gold bar had a narrow range and had an upper shadow, showing weak buying power. Yesterday's D1 bar fell inside the previous D1 bar to form an inside bar pattern, showing cumulative price compression. The D1 gold chart structure shows an overall sideways state with a bullish bias.
Gold H1 rebounded to retest above and is currently leveling off around this area. The gold H1 structure is more bearish after the previous push to create a new low. H1 gold now needs to wait for a push out of the current range before slightly retesting to sell/buy. The selling direction will be a bit more mainstream.
Gold H1 rebounded to retest above and is currently leveling off around this area. The gold H1 structure is more bearish after the previous push to create a new low. H1 gold now needs to wait for a push out of the current range before slightly retesting to sell/buy. The selling direction will be a bit more mainstream.
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