Gold: A change in market structure.
Gold we can see has been on a big rise lately helped by a weak USD, however last week we saw some change in market structure that has shown some possible selling opportunities. Gold was in a major supply zone when we started to a change from higher highs and higher lows to lower highs and lower lows in the form of a descending channel. Last Friday's NFP report came out positive for USD which gave gold a kick in the nuts causing big selling to come into the market. Negatively correlating with my USDJPY analysis for this week I expect gold to head down into one of the major demand zones outlined on the chart. Also it's worth noting that the EMA formation is showing a slow in rising prices and a confirmed cross to the downside would signal sellers.
Nota
ah, didnt quite make it to the targetmaybe will reject 1275 again
Nota
Nope, Trump causing gold to skyrocket based on war talks.
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