$XAUT 11.12 Gold outlook
Gold has been hit by the double blow of October CPI coming in above expectations and a slew of hawkish remarks from Fed officials, falling steadily from around 4060 to near 3970, with the daily chart’s midline now acting as resistance
Looking at the charts, the broader trend remains weak. The daily and shorter time frames are moving lower in tandem, and the current structure is bearish, so the priority is to sell rallies
Trading reference: If 4020 or 4045 acts as resistance, look for a move lower, targeting 3925 and then below 3900
If 3965 breaks decisively, consid