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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
