Today’s candle is red, but it is not big enough to flip the odds to the bearish side. Let’s discuss the hypothesis from different perspectives.
After a strong bullish Mat Hold continuation pattern, gold continues to consolidate. As I mentioned previously, three-five days would be quite normal as long as it does not close below ~$1805. The short-term odds are bullish.
The price is flirting with 200 MA and there is no confirmation yet. Indicators are barely bullish which is somewhat unusual for a long-term rally.
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