Gold outlook
I'm bearish again, and this time till 1800 zone...
In yesterday's comment, I said that I'm bullish but with some concerns. The fact is that on the daily chart we have lower highs and also the rise from 1850 is corrective in nature.
My concerns proved to be well-founded and Gold dropped from 1924 high to 1880 low in a matter of hours and although I lost 70 pips with my long trade at least I have a more clear picture (cost of doing business).
At this point, we have another lower high in place at 1930 zone and a clear incapacity for Gold to hold gains above 1900 figure.
I believe that in the near future XauUsd will drop, and drop hard, and as points of interest for sellers are 1900 and 1910 zones.
As a target (swing) 1850 could be a good place for taking profits
In yesterday's comment, I said that I'm bullish but with some concerns. The fact is that on the daily chart we have lower highs and also the rise from 1850 is corrective in nature.
My concerns proved to be well-founded and Gold dropped from 1924 high to 1880 low in a matter of hours and although I lost 70 pips with my long trade at least I have a more clear picture (cost of doing business).
At this point, we have another lower high in place at 1930 zone and a clear incapacity for Gold to hold gains above 1900 figure.
I believe that in the near future XauUsd will drop, and drop hard, and as points of interest for sellers are 1900 and 1910 zones.
As a target (swing) 1850 could be a good place for taking profits
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t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
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