7:44 AM · 25 June 2021

Chart of the day - GOLD (25.06.2021)

Gold has been underperforming as of late and remains below strong resistance at $1800 despite the ongoing bullish sentiment. Currently price is consolidating in a potential bear flag formation which often heralds a resumption of a downward move. In this case if sellers manage to break below the key support at $1760 then downward move may accelerate towards next support at $1725. In order to invalidate the bearish scenario, buyers need a break above the aforementioned resistance at $1800.

GOLD, H4 interval. Source: xStation5

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