Retest of trendline complete and overall bearish bias. I entered at 1466 and have a tight stop loss at 1468.
TP is at 1447 but feel free to take profits at any time.
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I was asked a lot to post some updates on gold .
Currently, I don't see any good opportunities for entry.
It looks like bears will keep pushing the market lower.
The first area of support on focus will be around 1435 level.
This area is based on the rising trendline on a weekly
+ 1.272 extensions of the...
View of gold for the upcoming days/weeks
Overall Long term trend = Bullish
Short term = Bearish
Price has remained high due to China Trade war and brexit. However With US CHINA trade war seeming to easy off and close to phase 1 deal
Brexit no deal pretty much off the table.
Price is looking correct back to its bullish trend line
Watch Smaller time...
As it can be seen it has broken the trend line places and has retested it on the 4h chart. i can see this dropping down to 23.6 fib which is around there 1477 or even further! in addition the 200 ema is still fluctuating around the candlestick and im awaiting a certain retest of this indicator and then a straight drop to -27 fib which is around the area of 1440...