Gold GOLD PRO WEEKLY, December 19 - 23, 2022

Greetings dear Friends, and happy coming Christmas, wish you all the best in coming 2023!

Gold market yesterday is the only one that has shown strong performance. Thankfully it has happened in the direction that we've discussed ;)

As a result, we've got 2nd bearish grabber with the same target on top. By the way, on Dollar Index we've got bullish reversal session, which is also good for our context:

On 4H chart our 3-Drive "Sell" literally is still alive. But based on the shape of the price, it seems, that we could get some rounding top. Yesterday price was not able to form a new top, now we need to get breaking of "higher lows" tendency as well. Based on recent action, it seems that it should happen...

For the 2nd attempt of entry we could consider two Fib levels, but it seems that pullback has more chances to over around 1800$. Downside action is strong, and it is not based on recent minor H&S on top that we've discussed yesterday. H&S XOP target has been exceeded almost twice. This should be something bigger.