SoManyDistractions

Potential Sell oportunity on Gold: 4H Range to fill

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OANDA:XAUUSD   Ouro/Dólar Americano
Gold is looking more and more bearish recently, after the past 2 weeks when we saw a bull run despite the HTF bearish bias. That resulted from positive economic news, giving investors the belief that the Feds could raise interest rates by 50bps - as opposed to 75 bps - the next rate hike. But recently, the probabilities are shifting back to a 75 bps rate hike and today this is showing in the bearish price action - but will it hold? I am anticipating a bearish 4H candle, to fill the clean range below.

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