Gold is facing bearish pressure from resistance

٩ مارس ٢٠٢١

Price is approaching our first resistance, in line with our horizontal overlap resistance level, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a reversal below this level. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias. A break below our downside confirmation level could provide the bearish acceleration to our first support target.