GoldView 4H CHART Bearish Scenario

We can clearly see a full extended range of 1830 to 1726

We have hit our 1818 level resistance. This level at 1818 holds well when EMA5 holds below 1806 and is not dragged up and only the price is able to challenge the level without breaking. If EMA5 breaks this level (1806) that will give price enough momentum to break 1818 level and beyond.

This will give us a clear run to 1830. We will then look for EMA5 to lock and secure 1818 to then give price momentum to break 1830. However the 1830 level has been tested 4 times in the last 4 months. In our opinion these 4 failed challenges right now have strengthened this level. A failed attempt here in our opinion will give the momentum needed for a steady movement down to 1781 and then 1751 and then to 1726 and below. A test on 1726 is overdue.

Trade safe and follow us as we break down this range during the week and trade each level.

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