Gold in a possible downtrend after recent uptrend. Price has rejected the 200sma for the second time in the bearish zone. I expect price to each 1240. We'll then watch how price reacts at this level, could potentially fall to 1220 and lower.
Price appears to be in a downtrend for the foreseeable future. Price has declined since a bearish pin bar formed off the 200sma in my bearish zone on the daily tf. Price also most recently broke minor support on the daily tf. Hoping for a retest and continuation to get in short to next daily minor support.