GOLD has seen some tough weather lately. I think the pain is far from over.
After producing a fake break out with a double top only two weeks of days ago, gold is falling again. It's to be expected that risk in the markets is going to decline with the inauguration of Biden soon, leading to a decrease in the demand for gold.
I've marked two areas of potential support on the chart, S1 and S2. S1 placed at the most recent low and S2 placed at $1700. Consider S2 a longer term target.
Happy trading!
After producing a fake break out with a double top only two weeks of days ago, gold is falling again. It's to be expected that risk in the markets is going to decline with the inauguration of Biden soon, leading to a decrease in the demand for gold.
I've marked two areas of potential support on the chart, S1 and S2. S1 placed at the most recent low and S2 placed at $1700. Consider S2 a longer term target.
Happy trading!
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📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
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🔥Premium Signals: www.fierytrading.com