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Gold shows rare 'Nine Red Birds' pattern, signaling potential price reversal soon.

Technical Signals
23 Mar 2026
Benzinga
View Source
Bullish
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Veteran trader Peter Brandt identified a rare 'Nine Red Birds' pattern in gold futures, marked by nine consecutive daily declines, suggesting selling pressure may be exhausted. This pattern, seen only a few times in 50 years, hints at a possible price reversal or bounce in gold. Confirmation would require signs like a strong bullish candle or price stabilization. Investors may watch gold ETFs like GLD and miner ETFs like GDX for trading opportunities if a reversal occurs.

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