GOLD | Both Moves Are Possible

GOLD | Both Moves Are Possible

I am looking at gold in two different time frames.

On the 4-hour chart, we can see the price that just tested a strong support structure
close to 1890.
The price just broke down of a small corrective pattern and if the bearish momentum
will increase we can see it moving lower. This looks risky but it can happen.

If you are bullish on gold you should wait for the price to move above the channel and after that
you have some chances to consider the bullish scenario.

Thank you and Good Luck!