Hello traders, yesterday, I mentioned that Gold has a strong chance of falling from the 1950 level after FOMC which is exactly what happened. So, cheers if you made money shorting Gold.
📌Currently, you can notice a strong bearish daily candlestick with a long wick at the top. This candlestick has formed at the top of the price channel.
📌A rejection has also happened at the 100-day exponential moving average level which is very crucial. It indicates that the bulls have failed at this 100D EMA level.
📌This gives us a bearish bias in Gold. I recommend shorting the rallies in Gold with targets at 1900, 1888 and 1835.
Comentário
If Gold pulls back near 1935-1940 again, I would consider adding new sell trades
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