Gold under seller pressure

In November, the yellow metal failed to form a fresh high while under intense seller pressure, with the price heading to last month's low around the 1.759 handles.

Forming an H&S bearish pattern might confirm further downward movement, with plenty of room towards 1,723 or 1,678 support levels for a nice bears' run.

Daily candles realm shows a massive pennant pattern for further price compression within its range. Keep always in mind the negative correlation between the greenback and the precious metal. A stronger dollar offsetting Omicron's fears could weigh on the commodity price performance.

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