Gold is looking heavy, having created a Gravestone Doji candle on Monday. The metal failed to close above $1,535 on Monday, a sign of buyer exhaustion. Gold could fall back to $1,500 in the short-term, as the daily chart is reporting a topping pattern. The yellow metal created a Gravestone Doji on Monday, which occurs when the open, low, and closing prices are all near each other with a long upper shadow. (Prices rose to a high of $1,555 before closing on a flat note at $1,527). Gravestone Doji is widely considered an advance warning of an impending bearish reversal, especially if it appears following a notable rally. In Gold’s case, the Gravestone Doji has appeared following a solid rise from $1,270 (May 21 low) to $1,555. Also, the metal failed to close above the previous higher high of $1,535 (Aug. 13 high) on Monday, which indicates buyer exhaustion. As a result, a deeper correction to $1,500 could be in the offing. As of writing, Gold is changing hands at $1,528 per Oz. Daily chart Trend: Bearish Pivot points 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’s Frydenberg: Confident economy will grow – Australian Associated Press FX Street 4 years Gold is looking heavy, having created a Gravestone Doji candle on Monday. The metal failed to close above $1,535 on Monday, a sign of buyer exhaustion. Gold could fall back to $1,500 in the short-term, as the daily chart is reporting a topping pattern. The yellow metal created a Gravestone Doji on Monday, which occurs when the open, low, and closing prices are all near each other with a long upper shadow. (Prices rose to a high of $1,555 before closing on a flat note at $1,527). Gravestone Doji is widely considered an advance warning of an impending bearish reversal,… 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.
