Gold’s daily chart shows a bearish Doji reversal. The yellow metal risks falling to support at $1,456. Gold prices could drop to support at $1,456, the candlestick pattern on the daily chart indicates. On Thursday, the yellow metal closed below $1,466 – the low of the Wednesday’s Doji candle – confirming a bearish reversal. Put simply, the corrective bounce from the Nov. 12 low of $1,445 has ended and the bears have regained control. Prices, therefore, look set to test support at $1,456 (Nov. 18 low). Supporting the bearish case is the below-50 reading on the 14-day relative strength index (RSI). The ascending trendline breakdown on the hourly chart also indicates the path of least resistance is to the downside. As noted earlier this week, the gold market sentiment is still quite bearish. On the higher side, Wednesday’s Doji candle high of $1,479 is the level to beat for the bulls. Daily chart Trend: Bearish 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 Australia housing market revival to continue into 2020 – Reuters poll FX Street 3 years Gold's daily chart shows a bearish Doji reversal. The yellow metal risks falling to support at $1,456. Gold prices could drop to support at $1,456, the candlestick pattern on the daily chart indicates. On Thursday, the yellow metal closed below $1,466 - the low of the Wednesday's Doji candle - confirming a bearish reversal. Put simply, the corrective bounce from the Nov. 12 low of $1,445 has ended and the bears have regained control. Prices, therefore, look set to test support at $1,456 (Nov. 18 low). Supporting the bearish case is the below-50 reading on the 14-day relative strength… 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.
