Gold has broken the psychological barrier of $1,300 and the key support at $1,295.there is downside room to $1,236 and no signs of buyer support anywhere. On the hourly there have been 4 re-tests of $1,295 that have failed with lower highs and accelerating lows, this is a string bearish sign. Good low risk entry to add to this trend.
New short from $1,290
Immediate short term target of $1,280
Target $1,260
Stretch target $1,236
Hourly picture is clear: DOWN!
New short from $1,290
Immediate short term target of $1,280
Target $1,260
Stretch target $1,236
Hourly picture is clear: DOWN!
Trade active:
Short entry $1,290
Trade closed: stop reached
Trade active:
New short entry $1,291 after another failed test of $1,295 resistance.