On gold chart we had a clear down trend 14 days but in this week wee saw big rejection on 1936. after rejection gold start moving up, at the moment we have only 1 low which cant give us trend information, but what we are waiting here that is resistances (Resistance 1, Resistance 2) after brake that we should find good low for entry. at the moment what we have last of the week, at least gold is in down trend, if gold market will brake 1935 which is Support 1 with that brake its confirm us gold is in bear market and we can open short position.
Note
Hello everyone, on gold we have so interesting situation, after touch resistance 1 came down with big impulsive bear candle, next week I will wait brake support which will possible trend follow and continue bear of gold.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.