Gold has pulled back by $10 from session highs. The 4-hour chart is beginning to lean bearish. Gold is trading near $1,993 at press time, representing a 0.4% decline on the day. The yellow metal faced rejection at $2,015 on Tuesday. The 4-hour chart relative strength index has dived out of an ascending/bullish trendline. As such, the metal risks extending losses to $1,980. That level is currently housing the trendline rising from Aug. 12 and Aug. 16 lows. A break below that trendline support would imply an end of the recovery from the Aug. 12 low of $1,863 and could cause some buyers to exit the market, leading to a deeper decline to $1,950. A move above $2,015 is needed to restore the immediate bullish view. 4-hour chart Trend: Bearish below $1,980 Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ex-ECB Chief Draghi: Only good debt can save economies FX Street 2 years Gold has pulled back by $10 from session highs. The 4-hour chart is beginning to lean bearish. Gold is trading near $1,993 at press time, representing a 0.4% decline on the day. The yellow metal faced rejection at $2,015 on Tuesday. The 4-hour chart relative strength index has dived out of an ascending/bullish trendline. As such, the metal risks extending losses to $1,980. That level is currently housing the trendline rising from Aug. 12 and Aug. 16 lows. A break below that trendline support would imply an end of the recovery from the Aug. 12 low of $1,863 and could cause… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
