Good Saturday morning to everyone! And have a great weekend. Since the week has ended, let's analyze the gold pair on the weekly timeframe using candlestick analysis. On the weekly chart of GOLD, we still have an unbroken bearish idea in the form of a bearish reversal pattern known as a Pin Bar. The tail of the Pin Bar shows bearish volumes, with the only drawback being that it formed on a large bullish volume based on vertical volumes. In the current weekly candle, the market has painted a bullish picture for us on GOLD, again on large vertical bullish volumes. These volumes essentially override the bearish volumes left by the bears in the tail of the Pin Bar. I believe that this week we will break the idea of this bearish pattern. But this is just my opinion.
