CHAN theory:
on 15-min level, comparison between the two vertical region on price fall (with MACD in assistance), we conclude that it's likely to see a short term reverse of gold price fall. However, if the reverse can't break back into the previously formed 15-min central region (1333.8 and 1326.9), we should be expecting the continuous 15-min level downwards trend.
In bigger picture, we are near a newly extended 1-hour central region(thin, in yellow btw 1327.7 and 1326.9)
Moving average
MA55 on 4h chart is acting as resistance once, it's possible to be effective again when short term price reverses.
on 15-min level, comparison between the two vertical region on price fall (with MACD in assistance), we conclude that it's likely to see a short term reverse of gold price fall. However, if the reverse can't break back into the previously formed 15-min central region (1333.8 and 1326.9), we should be expecting the continuous 15-min level downwards trend.
In bigger picture, we are near a newly extended 1-hour central region(thin, in yellow btw 1327.7 and 1326.9)
Moving average
MA55 on 4h chart is acting as resistance once, it's possible to be effective again when short term price reverses.