GOLD - Potential Drop to Demand Zones
Gold is in multi day accumulation phase which began near the end of yesterdays NY session. Price has created the HOD and has attempted to breach the Asian mid base line with multiple rejections.
On the 3/5 Min Chart.. HOD is set with 3 hits to the high - creating a 3 top mini M patten . creating shark fin out of the water.
TDI is under the 50 line with the Market Sentiment (yellow line ) in a bearish direction)
The previous bearish H1 candle .. gave clues to the momentum being in a bearish bias favor as well.
On the 3/5 Min Chart.. HOD is set with 3 hits to the high - creating a 3 top mini M patten . creating shark fin out of the water.
TDI is under the 50 line with the Market Sentiment (yellow line ) in a bearish direction)
The previous bearish H1 candle .. gave clues to the momentum being in a bearish bias favor as well.
- Raihaan Darr