Many of you asked me to share the updated analysis for Gold.
Analyzing a 4H time frame, we can see some signs of a slowing bullish momentum: after a strong bullish impulse that the price formed last week, we see a contracting price action within a rising wedge pattern.
The price managed to reach 2300 - an important psychological level. After its test, the market found equilibrium and formed a doji candle. Today we see a some pullback.
Weakening US Jobs data release may have a bearish effect of the market. I believe that a bearish violation of a support of the wedge can be a confirmation of an initiation of a correctional movement.
I do not recommend selling though because it is obviously too risky from a current perspective. Not only that, but I would rather look for a pullback to then buy the market from a safe level.