Gold is testing a strong resistance level and we can see a head and soulder pattern forming. After an over extended bull run, we expect a retracement. COT Data shows Net positions has increased to the short side. I expect to see some shorting this week. Daily stochastics is overbought. All price action, technicals and COT Data point to a bearish trend this week.
Comment:
Still waiting for confirmation before i update with the positions am taking
Comment:
Market hasnt still shown a change in structure. Daily confirmation is now invalid. will leave this to playout this week and see what setup we will have next week.
