Gold created a bearish outside reversal (engulfing) candle yesterday, as the bull failure to capitalize on the break above the key resistance at $1,315 was followed by a drop to $1,305. Validating that bearish candlestick pattern is the bear flag breakdown on the 15-minute chart, which could yield a drop to $1,294 – target as per the measured move method, that is, the length of the preceding bearish move subtracted from the breakdown price. Daily chart Hourly chart Trend: bearish 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 Breaking: US President Trump considering 60-day extension for deadline on higher tariffs for China imports, Aussie tests 0.7120 FX Street 3 years Gold created a bearish outside reversal (engulfing) candle yesterday, as the bull failure to capitalize on the break above the key resistance at $1,315 was followed by a drop to $1,305. Validating that bearish candlestick pattern is the bear flag breakdown on the 15-minute chart, which could yield a drop to $1,294 - target as per the measured move method, that is, the length of the preceding bearish move subtracted from the breakdown price. Daily chart Hourly chart Trend: bearish 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.
