Gold- where to sell?
Updated
As I said on Friday, I m bearish Gold and I expect to fall towards 1700 zone in the medium term...
After testing technical support, Gold has rebounded and is trading at 1789 at the time of writing.
In my opinion, this rebound is a good opportunity for bears to open short position above 1790 and I expect gains to be well caped around 1800 zone
The target for short term traders can be 1765 but, as mentioned, I expect this support to fall in the medium term
A daily close above 1800 would negate this scenario and put Gold in no man's land.
P.S: I saw the H&S and I choose to ignore it
After testing technical support, Gold has rebounded and is trading at 1789 at the time of writing.
In my opinion, this rebound is a good opportunity for bears to open short position above 1790 and I expect gains to be well caped around 1800 zone
The target for short term traders can be 1765 but, as mentioned, I expect this support to fall in the medium term
A daily close above 1800 would negate this scenario and put Gold in no man's land.
P.S: I saw the H&S and I choose to ignore it
Note
Gold is in my sell zone at this pointAs I said, in my opinion, a rise from Gold at this point would be too stupid easy
Trade active
First sell Limit activatedTrade active
Second set of sell activated
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