GOLD (XAUUSD): Very Bearish Pattern

31. Okt. 2020

Gold is contracting within a descending triangle formation.

with the sequence of lower highs and equal lows, bullish swings become weaker and weaker.

it looks like soon we will see a breakout attempt of the current major daily horizontal support.
in case of a daily violation of that, the price will go to lower structure levels.

next support will be 1800

be prepared and wait for breakout!