Gold (XAUUSD)Short
Next move down for Gold hitting resistance level
After Gold made its move down from its all time high the price action has been a great trade between 2685 and 2620 level where the first area of buying support was expected. Gold retraced back up beautifully to 2660 which is the key resistance level for a retest. Will it break through to go higher or break to the downside once again?
If it breaks to the downside the target level for support is 2500 price range where strong support was previously seen. When I saw the historical price levels line up on the trending line for highest highs , going back to 1920ish, 1980ish and now 1924 they all had a major correction occur in the markets. It seems we are setting up for a major market correction and an opportunity is here for a big short.
If it breaks to the downside the target level for support is 2500 price range where strong support was previously seen. When I saw the historical price levels line up on the trending line for highest highs , going back to 1920ish, 1980ish and now 1924 they all had a major correction occur in the markets. It seems we are setting up for a major market correction and an opportunity is here for a big short.
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