GOLD STRONG RESISTANCE (November 29th)
Yesterday, GOLD was capable of getting over the strong resistance but quickly came back down. Today we dropped back to the 1180 area but as you can see there's a good support there too.
Now today showed how the blue rectangle is acting as a strong Resistance. Price action tells us, looking at the yellow circles, that the bulls tried to get over it but the bears quickly brought it down.
Long-term GOLD I wouldn't advise to go long, the bears are in control. Very short-term, it's also difficult to guess by what I just explained in this graph. We shall see tomorrow.
Now today showed how the blue rectangle is acting as a strong Resistance. Price action tells us, looking at the yellow circles, that the bulls tried to get over it but the bears quickly brought it down.
Long-term GOLD I wouldn't advise to go long, the bears are in control. Very short-term, it's also difficult to guess by what I just explained in this graph. We shall see tomorrow.
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