Last week i adviced to keep shorting the market wich were profitable trades. 2012 formed a strong support level wich gold keeps respecting. The overal higher timeframe trend is bullish but were currently in a bearish channel. In the daily time frame the bullish channel broke and already retested. I am expecting gold to take orders around 2000-2005 again and in the long run posible break below psycological support 2000. Below this level we posible can add more sells.
If gold manage to beak above 2040. The whole sentiment may change to bullish again.
Longterm bearish target posible 2005, 1992, 1977
Resistance: 2020, 2030
Support: 2012, 2005, 1992
If gold manage to beak above 2040. The whole sentiment may change to bullish again.
Longterm bearish target posible 2005, 1992, 1977
Resistance: 2020, 2030
Support: 2012, 2005, 1992
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Daily perspective:
