GOLD: Short from 200 MA 61.8 FIBO & Resistance Area / Trendline
Updated
Yesterday our forecast in GOLD gave good answers to our technical analysis and the price started to move again in direction of the main trend, the downtrend. Today I zoomed in on the analysis in the 8H timeframe to see how the price had a rejected on the 200 Moving average in confluence with the Fibo Level 61.8 and the resistance area ( White rectangle ). The stochastic showed a divergence in overbought and the RSI turned bearish already. Our Bias remains strongly bearish.
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