Looking at gold daily chart
, it's obvious the price is weakening but it is not yet time to start selling the precious metal. To short gold
, price needs to violate swing low at 1480.34 (dotted arrows) a pullback will be a good time to short the market.
As it stands, if the price is rejected between 1480.34 and 1493.18 (solid arrows), gold
is still a buy. A break of the swing high at 1556.88 means gold
is still going higher...
PLAN YOUR TRADES AND TRADE YOUR PLANS