Gold - Forms Inside Bar + Pin Bar Combo, 1323 is Key | Aug 12


Gold – Forms Inside Bar + Pin Bar Combo
The 1323 level that we’ve been talking about in prior commentaries has been holding gold below it since early July. Today the precious metal formed an inside bar + pin bar combo, still floating above the 1305 support.

Generally if a pin bar is going to send an instrument lower, it usually makes some significant ground, or retraces only to find new sellers hammer it lower. However these last two in three days just sat there between 1305 and 1323, suggesting either the sellers have yet to make their move, or they are hesitating considering the geo-political tensions.

If we see a weak corrective pullback towards 1323 and the offers are …

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