Sasha Singh
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Gold : More Losses to Come

Gold was following a sideways pattern after the major decline in the pair. However currently pair seems like signaling a bearish trend. On the hourly chart of Gold the pair seems like trading within a descending triangle according to which the pair should break the support trend line of the triangle and continue the downtrend. On the stochastic oscillator also the signal trend line is above the moving average trend line signaling the continuation of the downtrend.

Another factor which might push the gold price down is easing tensions in Ukraine. Demand for Safe Haven is fading away.