FX.co ★ Analysis of Gold for November 16, 2018

Recently, Gold has been trading upwards. The price tested the level of $1,217.89. Anyway, according to the H1 time – frame, I found a potential bearish flag pattern in creation, which is a sign that buying looks risky. A pace of delcine is slow and my advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward targets are set at the price of $1,207.50 and at the price of $1,197.80.