Gold: Thursday's bearish outside day makes today's close pivotal

From fxstreet.com

Gold is currently trading at $1,526 per Oz, having hit a low of $1,522 earlier today. The yellow metal hit a high and low of $1,550 and $1,520, respectively, on Thursday and ended the day with 0.77% losses, engulfing the price action seen in the preceding two trading days. Essentially, Gold created a bearish outside day candle on Thursday, which is widely considered a sign of bullish-to-bearish trend change. The trend reversal, however, would be confirmed if prices find acceptance below Thursday's low of $1,520. So, today's close is pivotal. A break below $1,520, if confirmed, would open the doors to $1,492 (Aug. 22 ... (full story)