LONGTERM PLAY: DOWN
1. As you see gold has been rejecting off my resistance,
with fakeouts which is indicating that price is getting hammered and down will continue.
2. For any long bias, we must find support fast, like real quick to break this downward trend
that gets smacked at resistance in the last few scenarios. (I dont see finding support within 1-2 next months) in order to continue to 2k)
3. As my religious fibs are telling, we do have 1500 as a target, while trending down.
I see real support and continue of Gold Rally from there
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Lower Lows on the daily will confirm my TA.
PA SAINT VVS
1. As you see gold has been rejecting off my resistance,
with fakeouts which is indicating that price is getting hammered and down will continue.
2. For any long bias, we must find support fast, like real quick to break this downward trend
that gets smacked at resistance in the last few scenarios. (I dont see finding support within 1-2 next months) in order to continue to 2k)
3. As my religious fibs are telling, we do have 1500 as a target, while trending down.
I see real support and continue of Gold Rally from there
__________________________________________________________
Lower Lows on the daily will confirm my TA.
PA SAINT VVS
Comment:
I checked the chart again: an unconfirmed divergence on the daily and 4hr, will make things interesting. If the divergence plays out, its all long dong 2k!!! big disclaimer, divergence needs to be confirmed