Gold Price Forecast: XAU/USD bears take out a key hourly trendline, risks of a deeper bearish correction – by fx_ross Gold Technical Analysis Commodities DollarIndex
elevated for some time, even as recession risks rise, which argues for a prolonged period of pronounced weakness in precious metals. Pressure is rising on a small number of family offices and proprietary trading shops to finally capitulate on their massively bloated and complacent length in gold.''
, there are prospects of the price forming the right hand shoulder of what would then complete a bullish inverse head and shoulders pattern: If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.