GOLD continuation short
Updated
Traders,
A great resistance level to short and ride with the bearish trend. We see gold developed a very strong bearish impulse.
After the impulse we retraced to the 618 fib level and structure level. Also we´ve hit a 1.272 fib extension level.
For the extra confirmation the price developed a strong engulfing signal Tuesday.
Very likely to see a move into the lows.
Good luck
A great resistance level to short and ride with the bearish trend. We see gold developed a very strong bearish impulse.
After the impulse we retraced to the 618 fib level and structure level. Also we´ve hit a 1.272 fib extension level.
For the extra confirmation the price developed a strong engulfing signal Tuesday.
Very likely to see a move into the lows.
Good luck
Note
Price developed a potential double top at the 250SMA. Gold could get us in a nice short next week!Note
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