XAUUSD Three Inside Down Hourly Chart

Resistance: 1669.31 minor/1676.33 minor/1680.92 moderate

Support: well below forecasted values

The Hourly XAUUSD chart has a high credibility  bearish pattern, Three Inside Down. Though already in a bear market price action is now overextended suggesting caution should be taken for new shorts unless a swing trader. Existing sells however should stay short for possible further losses with a stop loss above the pattern high.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices

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