Gold- 1830 is now exposed (short term outlook)
Updated
In my weekend analysis, I've spoken both of Gold and Silver and said that although Gold is still bullish and Silver looks very bearish, I tend to "believe" Silver in this situation and that also Gold will follow.
At this moment, looking on 15m chart, we can clearly see that the range is broken to the downside and the price could drop to at least 1830.
That being said, 1850 will act as resistance, and rallies in that zone should be sold and only a daily close above 1870 would negate the bearish scenario
At this moment, looking on 15m chart, we can clearly see that the range is broken to the downside and the price could drop to at least 1830.
That being said, 1850 will act as resistance, and rallies in that zone should be sold and only a daily close above 1870 would negate the bearish scenario
Trade closed: target reached
I don t think it will hold for long
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