Gold has fired off a weekly pin bar on the price action chart. This pin bar is a bearish pin bar that is at a retrace point and previous resistance level. This pin bar is a small rejection candle in comparison to some of the other bullish candles that have been made on the move higher and that could be a possible hint that this is not the strongest pin bar. The bigger the better for pin bar setups and this is very small pin bar.
The pin bar is sitting on top of a minor support around 1385.00. If price can break this level and then move lower then the next support comes in around 1350.00.
The trend on the daily chart for daily chart traders is higher and for those traders they can look for long trades if price does move back lower should price rotate and then start firing off any bullish price action at any of these key support areas.
GOLD WEEKLY CHART
Hi,
I’m seeing this too. However, I have two broker accounts and on one, Spot Gold has slightly different prices than Rolling Gold on my other account. Why is this?