GOLD Breakdown and Support levels

 

 

• Gold four hour chart shows price resolving in favor of bears from the contracting pattern.
• Daily chart shows price nearing Golden ratio and support levels. Gold bears must close below golden ratio for extending gains.

GOLD Support and Resistance levels

 

• Price contraction continues in 4 hour time frame. Daily cloud is the crucial support. Closing below the cloud may lead to a breakdown from this contraction. For gold bulls the breakout is going to be tough as the overhead resistance levels looks strong.