London Session Watch Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             slid lower after the bearish pin bar candlestick pattern that we covered last Friday. There's another pin bar candlestick pattern after the first bearish pin bar candlestick pattern that we pointed out. That second pin bar candlestick pattern pierced through the upper band of the bollinger band which is an ideal selling setup. Note that the Stochastic indicator and Commodity Channel Index ( CCI ) where showing the price was in overbought territory at that time which adds fuels to the bears. Currently there are multiple inside bar candlestick patterns formed in the Gold             market. If the price breaks below the low of the inside bar candlestick pattern, we could potentially have selling opportunities coming in in todays             London session.
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