Gold is trying hard. Maybe not hard enough, as the price is still below the daily 8 EMA. Bearish pressure on the monthly and weekly could be the hurdle.
Expectations for tomorrow:
- If gold makes a green candle, similar to the last two, and it closes above ~$1790, it would make a Three White Soldiers with a good chances that the bottom is behind.
- However, if a green or red candle fails to close above ~$1780, there is a chance of a Falling 3 Methods being developed.
I will evaluate the formations after the closure tomorrow.
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