Gold Short
Gold is looking likely to continue towards the downside:
-Price is currently consolidating at a Key monthly level
-Price is also being rejected from a weekly trendline
-The purple line is a 382 fib re-tracement from the weekly time-frame, comes into congestion about 5-6 times with previous structure so is clearly a well respected level.
RR of 2.3:1
If price closes below 1303 then i will enter
Longer term analysis to follow
-Price is currently consolidating at a Key monthly level
-Price is also being rejected from a weekly trendline
-The purple line is a 382 fib re-tracement from the weekly time-frame, comes into congestion about 5-6 times with previous structure so is clearly a well respected level.
RR of 2.3:1
If price closes below 1303 then i will enter
Longer term analysis to follow
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