goldenBear88

Possible Sell opportunity

Short
TVC:GOLD   CFD sur Or (US$/OZ)
Irregular movements on yesterday's session/Short-term as Gold (Xau-Usd on my reports) continues to Trade sideways within the #1,680’s belt / #1,695.80 Resistance and #1,671.80 Support on the Hourly 1 chart. If I can draw anything positive out of the yesterday’s session, is that Gold revealed the underlying Short-term trend - Bearish. I expect small correction on Monday’s E.U. opening and aggressive drop towards #1,660.80 extension. One important difference though: the Daily chart #MA50 broke and for the first time in #2 days Gold is testing it from above as a Support, which makes Gold Bearish on Short and Medium-term. Death Cross is almost completed and I don’t need more calculations as Gold should test #1,660.80 and #1,647.80 extension. Gold ignored Annual Low’s on DX and confirmed my statement that Gold lately is correlated with Stock market. Stock markets started recovering the lost ground, and Gold should see capital moving away from it’s safe haven which will add Selling pressure as next week starts.

- My official and only Telegram Channel: t.me/goldenBear88
- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.