There is a large bearish AB=CD pattern on the left, and a long shadow hammer pattern appears on the daily chart, indicating that there is obvious pressure on 1.19, and the price may continue to adjust downward.
The weekly chart is under pressure on the midline of the downtrend channel
I think it is just a second test of high pressure. I don’t think it will continue to rise. On the contrary, I am more bearish on gold.
As observed through the 4H chart, a wedge is currently formed, and it may be a reversal wedge.
Green BCD contains a potentially bearish butterfly pattern
Although the daily chart is under pressure near the downward trend line, there is a double bottom pattern below, and short-term support is obvious. It is recommended not to rush to establish a short position. If the price remains above 150, it is recommended to establish a long position
The current price is a challenge for the shorts.
Observe the monthly chart. If the price breaks through 1860, it will be very beneficial to the longs in the short term. September is about to enter, and this probability is gradually increasing.
If the price breaks through 1916 again, it may reach 1970 or even above 2000,...
The current price is around 50% of the 1959~1676 Fibonacci retracement, and 1818~1828 is the current pressure range, and it may not necessarily break through this area. The daily chart may show a high doji pattern.